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Citigroup reported first-quarter earnings exceeding analysts' expectations, with profit rising 21% to $4.1 billion on higher revenue ($21.60 billion) and lower expenses. Strong performance in fixed income and equities trading fueled the growth, exceeding estimates in both areas. CEO Jane Fraser highlighted the bank's continued investor credibility and diverse business strategy, expressing confidence in the long-term strength of the U.S. economy despite current economic concerns.

Prepared by Christopher Adams and reviewed by editorial team.