UPDATE: Citigroup Posts Upbeat Q1 Results
Citigroup (NYSE: C) reported better-than-expected first-quarter results.
Citigroup's quarterly profit surged to $3.94 billion, versus a year-ago profit of $3.81 billion. On a per-share basis, it earned $1.23. Excluding one-time items, its earnings rose to $1.30 versus $1.29.
Its revenue declined to $20.12 billion. However, analysts were projecting earnings of $1.14 per share on revenue of $19.37 billion.
Citigroup shares gained 3.98% to $47.50 in pre-market trading.
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