Citigroup (C) 8% Higher After Reporting a Smaller Loss

Shares of Citigroup Inc. (NYSE: C) is trading up 8% in pre-open trading following a smaller-than-expected Q1 loss.

Citigroup reported a Q2 loss of $0.49 per share from continuing operations, better than the consensus of a $0.66 loss. Revenues came in at $18.65 billion, versus the consensus of $17.55 billion.

Citigroup has a 8:30 AM ET conference call.

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