MW Citigroup delivers 'strong quarter' as profit increases by 21%
Citigroup Inc.'s stock (C) rose 0.8% in premarket trading Tuesday after the bank's profit topped Wall Street analyst estimates in what Chief Executive Jane Fraser described as a "strong quarter, marked by continued momentum, positive operating leverage and improved returns in each of our five businesses."
Citigroup's first-quarter profit rose about 21% to $4.1 billion, or $1.96 a share, from $3.4 billion, or $1.58 per diluted share, in the year-ago quarter. Wall Street analysts expected the bank to earn $1.85 a share, according to estimates compiled by FactSet.
Revenue rose 3% to $21.6 billion, ahead of the analyst estimate of $21.3 billion.
-Steve Gelsi
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April 15, 2025 08:13 ET (12:13 GMT)
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