Citi reports higher profit, revenue; stock rises

NEW YORK • Citigroup is reporting earnings that beat Wall Street’s expectations for the second quarter as investment banking profits rose sharply. Profit for the March-to-June period was $3.9 billion after excluding an accounting gain, the bank reported Monday. That’s up 26 percent from a year ago. The profit amounted to $1.25 per share, beating the $1.18 per share predicted by analysts polled by FactSet. Revenue was $20 billion after excluding the accounting gain, up 8 percent from the same per...

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