Citigroup Q1 Earnings Beat Estimates as Equities Trading Surges

Citigroup (C) shares climbed in early trading on Tuesday after the bank reported first-quarter 2025 results that surpassed analyst expectations, thanks to strong performance in its markets division.

The bank posted earnings per share (EPS) of $1.96 and revenue of $21.60 billion, beating analyst forecasts of $1.84 in EPS and $21.19 billion in revenue, according to data from Visible Alpha.

Revenue from its Markets segment rose 12% year-over-year to $6.0 billion, driven largely by a 23% increase in equities trading revenue, which hit $1.5 billion for the quarter.

Following the earnings release, Citigroup shares gained 2.4% shortly after the opening bell on Tuesday. The stock had been down 10% year-to-date prior to the report.

The strong results come amid a broader trend of major U.S. banks outperforming expectations. Since the start of Q1 earnings season last Friday, Morgan Stanley (MS), JPMorgan Chase (JPM), Wells Fargo (WFC), and Goldman Sachs (GS) have all posted better-than-expected numbers. However, many bank executives remain cautious due to ongoing economic uncertainty, particularly surrounding U.S. tariffs.

Despite those concerns, Citigroup CEO Jane Fraser expressed optimism, especially regarding the U.S. dollar—even as it heads toward its worst two-month stretch since 2002.