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.

VIDEO TRANSCRIPT:

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.

If you liked this article you might like

Citi Will Refund $335 Million in Card Charges: LIVE MARKETS BLOG

Citi Will Refund $335 Million in Card Charges: LIVE MARKETS BLOG

Financial Stocks Make Great Buys After the Recent Market Downdraft

Financial Stocks Make Great Buys After the Recent Market Downdraft

This Is the Perfect Time to Buy Dividend Stocks

This Is the Perfect Time to Buy Dividend Stocks

Citigroup Gives CEO Corbat 48% Pay Raise as Profitability Misses Goal

Citigroup Gives CEO Corbat 48% Pay Raise as Profitability Misses Goal

Worst-In-Class Goldman Sachs CEO Blankfein Gets 9% Pay Raise

Worst-In-Class Goldman Sachs CEO Blankfein Gets 9% Pay Raise