Investing.com - Banking conglomerate Citigroup (NYSE:C) reported better than expected first quarter earnings on Thursday, sending its shares higher in pre-market trade.
Citigroup said adjusted earnings per share came in at $1.52 in the three months ended March 31, above expectations for earnings of $1.39 per share and up from $1.23 in the year-ago period.
The bank’s first quarter revenue totaled $19.8 billion, slightly below forecasts for revenue of $19.83 billion and compared to revenue of $20.2 billion for the first quarter 2014.
First quarter 2014 results also included a $210 million tax charge.
Michael Corbat, Chief Executive Officer of Citigroup, said, "We had a strong quarter overall, particularly in executing against our top strategic priorities."
Immediately after the earnings announcement, Citigroup shares rose 1.71% in trading prior to the opening bell to hit $54.13 from a closing price of $53.21 on Wednesday.
Meanwhile, U.S. stock futures pointed to a modestly lower open. The Dow futures pointed to a decline of 0.35%, the S&P 500 futures shed 0.4%, while the Nasdaq 100 futures shed 0.45%.