UPDATE: Citigroup Reports 24% Surge In Q2 Profit

Citigroup Inc C reported a 24% rise in its second-quarter profit. Citigroup's profit surged to $3.34 billion, or $1.09 per share, from $2.70 billion, or $0.90 per share, in the year-ago period. Its total revenue dropped to $20.62 billion, from $22.07 billion. Analysts were expecting earnings of $0.96 per share on revenue of $19.87 billion. Citigroup shares gained 3% to $40.19 in pre-market trading.