Shares of Citigroup (NYSE: C ) popped today after the stock beat analysts' expectations, thanks in large part to losses on some of its troubled assets coming in lower than expected. The day's good news aside, the bank has had a difficult stretch recently, with the Federal Reserve rejecting the bank's capital allocation plan over "qualitative concerns" around Citigroup's capital planning process.
In this segment from Monday's Where the Money Is, Motley Fool financial analyst Matt Koppenheffer points out that while the bank did beat estimates, it still wasn't a stellar quarter. However, Matt breaks down the quarter further for investors, discussing the bank's strategies for the future, and telling investors why he's bullish on Citigroup's long-term story.
Big banking's little $20.8 trillion secret
There's a brand-new company that's revolutionizing banking, and is poised to kill the hated traditional brick-and-mortar banks. That's bad for them, but great for investors. And amazingly, despite its rapid growth, this company is still flying under the radar of Wall Street. To learn about about this company, click here to access our new special free report.