Citigroup beats on earnings

Citigroup reported first-quarter profits that topped analysts’ forecasts on Thursday as its fixed-income revenues also topped expectations.

Citi reported $US1.35 in adjusted earnings per share, beating analysts’ consensus forecast for $US1.24 according to Bloomberg.

Fixed income markets revenue totaled $US3.62 billion, ahead of the expectation for $US3.52 billion.

Other big banks including JPMorgan and Wells Fargo reported earnings ahead of the opening bell on Thursday. JPMorgan’s investment bank had a record-breaking quarter.

More to come …

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