Citigroup Inc. said Thursday its first-quarter profit jumped a larger-than-expected 21%, with the bank slashing costs to overcome a drop in trading revenue.
The New York-based bank reported a profit of $4.77 billion, or $1.51 a share. That compared with $3.94 billion, or $ 1.23 a share, a year ago. Excluding one-time items, per-share earnings were $1.52, beating the $1.39 a share projected by analysts polled by Thomson Reuters.
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