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Citigroup earnings: $1.24 per share, vs. expected EPS of $1.10

Citigroup reported quarterly earnings and revenue that easily beat analysts' expectations on Friday.

The company posted second-quarter earnings per share of $1.24, compared with $1.51 a share in the year-earlier period. Revenue for the quarter came in at $17.548 billion, against the comparable year-ago figure of $19.158 billion.

The company's stock rose about 1 percent in premarket trading.

Analysts had expected Company to report earnings of about $1.10 a share on $17.469 billion in revenue, according to a consensus estimate from Thomson Reuters.

C in 2016

Source: FactSet

Citigroup also said it repurchased 30 million common shares, returning $1.5 billion to shareholders.

"Nearly all of our net income came from our core businesses and we continued to reduce non-core assets in Citi...