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