While Citigroup still has some distance to travel before it wins over investor confidence, at least it is moving in the right direction.

The bank earned $4.29 billion, or $1.35 a share, on revenue of $18.69 billion in the third quarter. Excluding accounting adjustments and the businesses in run-off mode, that works out to around $1.31 a share. Analysts were expecting just $1.28 in earnings.