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Citigroup stock gains after profit beats expectations, while revenue falls amid ‘normalization’ in market activity

Citigroup stock gains after profit beats expectations, while revenue falls amid 'normalization' in market activity

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Shares of Citigroup Inc. inched up 0.3% in premarket trading Wednesday, after the moneycenter bank reported a second-quarter profit that rose nearly six-fold to beat expectations, while revenue fell amid a “normalization” in market activity and lower average card loans. Net income increased to $6.2 billion, or $2.85 a share, from $1.1 billion, or 38 cents a share, in the year-ago period.

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