NEW YORK (TheStreet) -- Shares of Citigroup are climbing on Monday after the bank reported first-quarter quarter earnings and revenue that easily beat analysts' estimates. Results were boosted by a narrower loss on the banks' portfolio of troubled assets.
Shares of Citigroup (C) are climbing on Monday after the bank reported first-quarter quarter earnings and revenue that handily beat analysts' estimates.
Excluding items, Citigroup reported adjusted earnings of $1.30 a share on revenue of about $20.1 billion -- beating analysts' estimates of earnings of $1.14 a share on revenue of about $19.3 billion, according to Thomson Reuters. A narrower loss on its portfolio of troubled assets, Citi Holdings, helped boost results.On a cautious note, Citigroup saw a decline in revenue from bond trading and home mortgage lending, as well as in its investment banking, treasury services, processing and retail banking units. These declines echo JPMorgan's (JPM) results, which were released on Friday.
WATCH: More videos from Brittany Umar on TheStreet TV At last check, shares of Citigroup were climbing more than 4% to $47.63. In New York, I'm Brittany Umar for TheStreet. Written by Brittany Umar in New York.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV