Citigroup posts decent earnings

Citi Building Sign

Citigroup reported quarterly earnings that beat analysts' expectations on Thursday.

The company posted first-quarter earnings per share of $1.52, up from $1.23 a share in the year-earlier period.

Revenue for the quarter came in at $19.809 billion, against the comparable year-ago figure of $20.12 billion.

Analysts expected Citigroup to report earnings of $1.39 a share on $19.82 billion in revenue, according to a consensus estimate from Thomson Reuters.

Citi announced in February it cut Chief Executive Michael Corbat's pay by about 7 percent in 2014, a year in which the bank's profit nearly halved due to higher legal costs and a slump in bond trading.

Year to date, bank's stock is slightly lower, roughly in line with the performance of the S&P 500's financial sector.

-Reuters contributed to this report.

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