Societe Generale smash analyst expectations in first quarter

French bank Societe Generale reported net income that beat analyst expectations for the first quarter of 2021, getting a boost from a strong performance in its global markets division.

Net income for the first quarter came in at 814 million euros ($977 million), the lender said Thursday. Analysts were expecting a net income of 204 million euros.

The company also surprised markets at the end of the four quarter with a net income of 470 million euros, and well above the 252 million euros estimated by analysts ahead of the results.

The stock is up nearly 40% year-to-date.