Citigroup, the third-largest U.S. bank by assets, reported second-quarter net income of $4 billion, up 25% from a year earlier. The bank said higher revenue drove the earnings jump, partially offset by increases in the cost of credit and expenses.

Citigroup (C) stock gained 2.7% in Tuesday afternoon trading after the bank's chief financial officer said the company plans to bolster its share repurchases this quarter.

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