UPDATE: Citigroup Reports Rise In Q3 Profit

Citigroup Inc

reported a rise in its third quarter profit on Monday. Citigroup's quarterly profit climbed to $3.8 billion, or $1.23 per share, from $2.2 billion, or $0.73 per share, in the year-earlier period. Its earnings per share excluding a credit valuation adjustment came in at $0.84 per share. Citigroup's revenue surged to $20.83 billion, from $20.74 billion. The latest quarter revenue included a credit valuation adjustment of $1.9 billion. Analysts were expecting earnings of $0.82 per share on revenue of $19.27 billion. Citigroup shares gained 1.41% to $28.80 in pre-market trading.