Citigroup, the third-largest U.S. bank by assets, reported second-quarter net income of $4 billion, up 25% from a year earlier.
The bank said higher revenue drove the earnings jump, partially offset by increases in the cost of credit and expenses.
Earnings in the period were $1.96 a share, topping forecasts for $1.61. Revenue climbed 8% to $21.7 billion, surpassing expectations of $20.96 billion.
