Goldman Sachs’ (NYSE:GS) Beats ‘The Street’

Goldman Sachs’ (NYSE:GS) Beats ‘The Street’

Goldman Sachs’ (NYSE:GS) Beats ‘The Street’

$GS

Tuesday, Goldman Sachs Group Inc (NYSE:GS) beat Wall Street’s expectations for Quarterly profit driven by a rise in trading revenue and higher fees from debt and equity underwriting.

The leading Wall Street bank’s trading revenue jumped 30% from a year earlier when it reported a 2% fall, hurt by its worst bond trading results since the 2008 financial crisis.

Volatility came into global markets in February after a prolonged calm in Y 2017 hotting up stocks, bonds, currencies and commodities, and remained elevated through the end of March, helping Goldie book gains in both equity and bond trading in Q-1.

Goldman’s fixed income trading revenue stood out in contrast with that of larger rivals.
Revenue from the business rose 23%, while JPMorgan Chase & Co’s (NYSE:JPM) fixed income revenue was flat and Citigroup’s (NYSE:C) fell 7%.

Net income applicable to common shareholders rose 27% to $2.74-B, or 6.95/share way past the average analyst estimate of 5.58/share, according to Thomson Reuters I/B/E/S.

Total revenue, including net interest income, rose 25% to $10.04-B.

HeffX-LTN Analysis for GS: Overall Short Intermediate Long
Neutral (-0.00) Neutral (-0.20) Neutral (0.12) Neutral (0.07)

Stay tuned…

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