Citigroup (C) shares rose in early trading Tuesday after the bank reported better-than-expected first-quarter results as volatile markets boosted equities trading.
The firm reported earnings per share (EPS) of $1.96 on revenue of $21.60 billion, while analysts surveyed by Visible Alpha expected $1.84 and $21.19 billion, respectively. Markets revenue rose 12% year-over-year to $6.0 billion, powered by a 23% jump in equities trading revenue to $1.5 billion.
Citigroup stock rose 4% Tuesday afternoon and was one of the top performers in the S&P 500. Shares entered the day down 10% in 2025.
Since bank earnings began last Friday, Morgan Stanley (MS), JPMorgan Chase (JPM), Wells Fargo (WFC), and Goldman Sachs (GS) all posted results that beat analysts’ estimates, but executives have struck a cautious tone about the rest of the year due to uncertainty caused by tariffs.
Citigroup CEO Jane Fraser said she was bullish about the prospects for the U.S. dollar, which is on track to have its worst two-month stretch since 2002.
“When all is said and done, and longstanding trade imbalances and other structural shifts are behind us, the U.S. will still be the world’s leading economy, and the dollar will remain the reserve currency,” Fraser said in the release.
UPDATE—April 15, 2025: This article has been updated with the latest share price information.
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