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Citigroup second quarter profit of $6.23

Citigroup unveiled a better-than-expected record quarterly profit of $6.23 billion today as it reaped higher international revenues.

The biggest US bank said its second-quarter net profit increased 18% from the same period a year ago.

Citigroup said revenue growth came from the United States and from the bank's substantial overseas operations.

The banking and financial services group also said revenues jumped 20% to a record $26.6 billion during the quarter.

The bank today announced  earnings per share of $1.24, with most banking analysts  only expecting Citigroup to post  earnings per share of $1.13.

 Investment banking revenue grew 90% to $1.65 billion following a flurry of mergers and acquisitions.

Its record-topping profit of $6.23 billion overshadowed the latest quarterly earnings of Google, Microsoft, Pfizer and Yahoo, which combined amounted to about €5.4 billion.