Citigroup: Q1 Earnings Snapshot
NEW YORK (AP) — NEW YORK (AP) — Citigroup Inc. (C) on Friday reported first-quarter net income of $4.61 billion.
The New York-based bank said it had earnings of $2.19 per share. Earnings, adjusted for non-recurring gains, were $1.86 per share.
The results surpassed Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $1.66 per share.
The U.S. bank posted revenue of $37.49 billion in the period. Its revenue net of interest expense was $21.45 billion, also beating Street forecasts. Ten analysts surveyed by Zacks expected $19.93 billion.
Citigroup shares have risen roughly 5% since the beginning of the year, while the S&P’s 500 index has risen 8%. The stock has dropped roughly 6% in the last 12 months.