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Citigroup Q1 Profit Beats Estimates - Quick Facts

Citigroup Inc. (C) reported first quarter earnings per share of $1.05 compared to $1.87, prior year. On average, 19 analysts polled by Thomson Reuters expected the company to report profit per share of $1.04, for the quarter. Analysts' estimates typically exclude special items. Net income was $2.5 billion, declined 46% driven by the higher cost of credit, partially offset by the higher revenues and a lower effective tax rate.

First quarter revenues were $20.7 billion, up 12% primarily reflecting the higher revenues in Fixed Income and Equity Markets, as well as the benefit of mark-to-market gains on loan hedges in Corporate Lending. Analysts expected revenue of $19.01 billion for the quarter.

Citigroup's end-of-period deposits were $1.2 trillion as of quarter end, an increase of 15% from the prior-year period. In constant dollars, end-of-period deposits increased 17%.

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