Headline: Barclays Sees a 23% Surge in Profits in Q3

Barclays Plc reported that its net income attributable to shareholders for the third quarter rose 23% compared to the same period last year, reaching £1.6 billion. Analysts had anticipated a net income of £1.17 billion. Revenue for the third quarter stood at £6.5 billion, surpassing the estimated £6.39 billion. Earlier this year, the bank announced a strategic overhaul aimed at reducing costs, enhancing shareholder returns, and stabilizing long-term financial performance, with a shift towards focusing more on domestic lending while retaining its more volatile investment banking unit. The net profit for Barclays' investment banking division increased by 10% in the third quarter, rising to £3.02 billion.