UPDATE: Citigroup Q1 Profit Surges 30%

Citigroup C reported a 30% rise in its first-quarter profit. Citigroup's quarterly profit surged to $3.8 billion, or $1.23 per share, from $2.9 billion, or $1.11 per share, in the year-ago period. Its adjusted net income came in at $1.29 per share. Its total revenue rose to $20.5 billion, from $20.2 billion. However, analysts were expecting earnings of $1.17 per share on revenue of $20.16 billion. Its net interest margin widened to 2.94%. Citigroup shares rose 2.12% to $45.73 in pre-market trading.