Citigroup’s third-quarter earnings rose 68 percent from a year earlier, lifted by an accounting adjustment and continued strength in the bank’s international operations.

Citigroup booked a $1.9 billion gain tied to a change in the valuation of its own debt, and continued improvement in losses from soured loans allowed the bank to reduce its loan-loss reserve by $1.4 billion.

Even without the accounting gain, Citigroup’s $3.74 billion profit exceeded analysts’ expectations.

Revenue, however, fell eight percent from a year earlier, excluding the gain, to $18.9 billion.

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