Investing.com - Banking conglomerate Citigroup (NYSE:C) reported better than expected second quarter earnings on Thursday, sending its shares higher in pre-market trade.
Citigroup said adjusted earnings per share came in at $1.45 in the three months ended June 30, above expectations for earnings of $1.34 per share and up from $1.24 in the year-ago period.
The bank’s second quarter revenue totaled $19.5 billion, beating forecasts for revenue of $19.17 billion and compared to revenue of $19.4 billion for the second quarter 2014.
Second quarter 2014 results also included the impact of a $3.8 billion charge ($3.7 billion after-tax) to settle legacy RMBS and CDO-related claims.
Michael Corbat, Chief Executive Officer of Citigroup, said, "Our results for the quarter show very balanced performance across our business lines."
Immediately after the earnings announcement, Citigroup shares rose 2.41% in trading prior to the opening bell to hit $57.85 from a closing price of $56.49 on Wednesday.
Meanwhile, U.S. stock futures pointed to a modestly higher open. The Dow futures pointed to a gain of 0.35%, the S&P 500 futures tacked on 0.4%, while the Nasdaq 100 futures advanced 0.45%.