Citigroup Revenue Beats in Every Division as Pay Costs Climb

Citigroup Inc. beat Wall Street revenue estimates across all five of its major business lines, a haul that’s helping the firm manage rising compensation costs and a plan to sell its retail unit in Mexico.

Total revenue jumped 9% as the firm’s markets, banking, services, wealth and US retail divisions all set records for a third quarter, the New York-based company said in a statement Tuesday. Traders in both equities and fixed-income products surpassed analysts’ projections, pulling in a total of $5.6 billion — or 15% more than a year earlier.