US Stock Market: Citigroup shares slide after upbeat results fail to ease worries over higher costs

Citigroup reported its highest quarterly revenue in a decade with net income jumping 45% to $5.8 billion ($3.15 per share), beating analyst estimates of $2.74. Revenue rose 14% year-on-year to $24.8 billion, yet shares slid as the bank maintained its full-year ROTCE guidance of 10-11%, below the 13% achieved in Q2, raising concerns about second-half profitability amid rising investments. The strong results were powered by a 45% surge in equities trading revenue and a 44% rise in investment banking revenue to $1.55 billion, part of a broader trend across major US banks including JPMorgan, Goldman Sachs, Wells Fargo, and Bank of America.