Citigroup (C) logged stronger-than-expected first-quarter results that were buoyed by double-digit revenue gains in equity trading and investment banking, while the lender said that the global economic outlook has become "more negative."

Earnings per share rose to $1.96 from $1.58 a year earlier and surpassed the consensus on FactSet for $1.85. Revenue rose 3% to $21.60 billion, above Wall Street's $21.26 billion view.

Citigroup shares rose 3.9% intraday Tuesday.

"We delivered a strong quarter, marked by continued momentum, positive operating leverage and improved returns in each of our five businesses," Chief Executive Jane Fraser said in a statement.

Markets revenue jumped 12% to $5.99 billion as equity trading revenue surged 23% to $1.51 billion amid higher client activity. Revenue in fixed income grew 8% to $4.48 billion.

Banking revenue climbed 5% to $1.94 billion, buoyed by investment banking growth of 12% which benefited from a surge in advisory fees. Revenue in the wealth segment soared 24% to $2.10 billion, while US personal banking increased 2% to $5.23 billion.

"While our corporate and consumer clients are resilient and in good financial health, the world is in a wait and see mode and is facing a more negative macro outlook than anyone had anticipated at the beginning of the year," Fraser said during an earnings call, according to a FactSet transcript. "The changes underway globally will go beyond trade and tariffs."

Fraser expressed confidence in Citigroup's ability to "navigate through any environment from a position of strength in periods of stress."

After announcing sweeping new tariffs on US imports earlier this month, President Donald Trump declared a 90-day pause on certain tariffs for non-retaliating countries. China responded with its own retaliatory duties, and Washington and Beijing have since raised tariffs on each other's goods.