NEW YORK (AP) _ Citigroup Inc. (C) on Monday reported first-quarter earnings of $4.71 billion.
The bank, based in New York, said it had earnings of $1.87 per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.78 per share.
The U.S. bank posted revenue of $25.89 billion in the period. Its revenue net of interest expense was $18.58 billion, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $18.76 billion.
Citigroup shares have increased 30 per cent since the beginning of the year, while the Standard & Poor’s 500 index has risen 16 per cent. The stock has decreased 5 per cent in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on C at https://www.zacks.com/ap/C
The Associated Press
