Citigroup: Q1 Earnings Snapshot
NEW YORK (AP) _ Citigroup Inc. (C) on Thursday reported first-quarter earnings of $7.88 billion.
The bank, based in New York, said it had earnings of $3.62 per share.
The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $2.56 per share.
The U.S. bank posted revenue of $21.7 billion in the period. Its revenue net of interest expense was $19.33 billion, which also beat Street forecasts. Five analysts surveyed by Zacks expected $18.91 billion.
Citigroup shares have risen 18% since the beginning of the year, while the S&P’s 500 index has risen roughly 10%. The stock has increased 61% in the last 12 months.