NEW YORK (AP) — NEW YORK (AP) — Citigroup Inc. (C) on Wednesday reported fourth-quarter net income of $2.86 billion, after reporting a loss in the same period a year earlier.

The company, based in New York, said it had earnings of $1.34 per share.

The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.25 per share.

The U.S. bank posted revenue of $40.9 billion in the period. Its revenue net of interest expense was $19.58 billion, also surpassing Street forecasts. Seven analysts surveyed by Zacks expected $19.55 billion.

Citigroup shares have risen slightly more than 4% since the beginning of the year, while the S&P's 500 index has climbed 22%. The stock has increased 42% in the last 12 months.

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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