NEW YORK (AP) — NEW YORK (AP) — Citigroup Inc. (C) on Friday reported second-quarter profit of $3.22 billion.
The bank, based in New York, said it had earnings of $1.52 per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.40 per share.
The U.S. bank posted revenue of $42.63 billion in the period. Its revenue net of interest expense was $20.14 billion, also exceeding Street forecasts. Seven analysts surveyed by Zacks expected $20.03 billion.
Citigroup shares have increased 28% since the beginning of the year, while the S&P’s 500 index has increased 17%. The stock has climbed 41% 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
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