NEW YORK (AP) — NEW YORK (AP) — Citigroup Inc. (C) on Tuesday reported second-quarter net income of $4.02 billion.

The company, based in New York, said it had earnings of $1.96 per share.

The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.61 per share.

The U.S. bank posted revenue of $42.35 billion in the period. Its revenue net of interest expense was $21.67 billion, which also beat Street forecasts. Eight analysts surveyed by Zacks expected $20.98 billion.

Citigroup shares have risen 24% since the beginning of the year, while the S&P's 500 index has climbed nearly 7%. The stock has climbed 36% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on C at https://www.zacks.com/ap/C

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