Citigroup Profit Surges 42%, Exceeding Expectations
Citigroup reported a 42% increase in first-quarter profit to $5.8 billion, the bank said Tuesday.
Earnings were $3.06 per share, above analyst forecasts of $2.63.
Quarterly results
Revenue for the quarter reached $24.6 billion, surpassing the $23.53 billion estimate from FactSet.
The results, released on Tuesday, showed stronger-than-expected performance across key business lines.
- Net profit: $5.8 billion (up 42% year-over-year)
- Earnings per share: $3.06 (expected $2.63)
- Revenue: $24.6 billion (expected $23.53 billion, FactSet)
Market reaction
Citi shares rose 1.4% in premarket trading on Tuesday.
Through Monday’s market close, the stock had gained 6.4% year-to-date, while the S&P 500 was up 0.4% in the same span.
Citigroup’s profit surge of 42% came well above forecasts, effectively exceeding expectations.
Investors responded to the beats in both revenue and earnings with modest buying pressure. Filmogaz.com will monitor any follow-up commentary from the bank.
