Citigroup profit rises and beats analyst forecasts, shares rise

Citigroup Inc. C stock is up 2% in premarket trades after the bank reported a higher first-quarter profit that beat analyst estimates. Citi said its earnings for the three months ended March 31 increased to $4.6 billion, or $2.19 per share, up from $4.3 billion, or $2.02 a share, in the year-ago quarter. Adjusted profit was $1.86 a share. Revenue increased to $21.4 billion from $19.2 billion. Citigroup was expected to earn adjusted profit of $1.65 a share, according to FactSet data.

C stock is up 2% in premarket trades after the bank reported a higher first-quarter profit that beat analyst estimates. Citi said its earnings for the three months ended March 31 increased to $4.6 billion, or $2.19 per share, up from $4.3 billion, or $2.02 a share, in the year-ago quarter. Adjusted profit was $1.86 a share. Revenue increased to $21.4 billion from $19.2 billion. Citigroup was expected to earn adjusted profit of $1.65 a share, according to FactSet data.

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