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Citigroup Surges on Better-than-Expected Earnings Surprise

Shares of Citigroup are climbing on Monday after the bank reported first-quarter quarter earnings and revenue that handily beat analyst estimates. Excluding items, Citigroup reported adjusted earnings of $1.30 a share on revenue of about $20.1 billion -- beating analysts' estimates of earnings of $1.14 a share on revenue of about $19.3 billion, according to Thomson Reuters. A smaller loss on its portfolio of troubled assets, Citi Holdings, contributed to the better-than-expected results.