NEW YORK (AP) — NEW YORK (AP) — Citigroup Inc. (C) on Tuesday reported first-quarter profit of $5.79 billion.
The New York-based company said it had earnings of $3.06 per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.64 per share.
The U.S. bank posted revenue of $44.41 billion in the period. Its revenue net of interest expense was $24.63 billion, also exceeding Street forecasts. Six analysts surveyed by Zacks expected $23.72 billion.
Citigroup shares have climbed 8% since the beginning of the year, while the S&P’s 500 index has increased almost 1%. The stock has more than doubled in the last 12 months.
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