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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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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