UPDATE: Citigroup Posts Upbeat Q2 Profit

Citigroup C reported a rise in its second-quarter profit. Citigroup's quarterly profit jumped to $4.2 billion, or $1.34 per share, from $2.95 billion, or $1 per share, in the year-ago quarter. Its adjusted earnings per share came in at $1.25 per share, beating analysts' estimates of $1.18 per share. Its total net revenue rose to $20.5 billion from $18.64 billion. However, analysts were projecting earnings of $1.18 per share on revenue of $19.73 billion. Citigroup shares gained 2.85% to $52.26 in pre-market trading.