Investing.com – Shares in Citigroup (NYSE:C) in pre-market trade on Friday after reporting third quarter earnings that were better than feared.
Citigroup said earnings per share came in at $1.24 in the three months ended September 30, down from $1.31 a share a year earlier but above expectations for earnings of $1.16 a share.
The bank’s revenue totaled $17.76 billion in the third quarter, a 4.0% decrease from the $18.69 billion reported in the same period in 2015, but above estimates for revenue of $17.27 billion.
Traders will now turn their attention to the bank’s conference call due to start at 11:30AM ET (17:30GMT).
Following the release of the report, shares in Citigroup rose $0.56, or 1.16%, in pre-market trade to $49.01, from Thursday’s closing price of $48.45.
Meanwhile, U.S. equity markets pointed to a higher open. The blue-chip Dow futures advanced 82 points, or 0.46%, 8:08AM ET (12:08GMT), the S&P 500 futures rose 8 points, or 0.39%, while the tech-heavy Nasdaq 100 futures gained 17 points, or 0.36%.