Goldman Sachs Had Q1 Despite Excellent Bottom Line Beat
Goldman Sachs reported its most recent quarterly results before the markets opened on Monday.
Goldman Sachs Group Inc. (NYSE: GS | GS Price Prediction) reported its most recent quarterly results before the markets opened on Monday. The investment bank said that it had $5.71 in earnings per share (EPS) and $8.81 billion in revenue, which compares with consensus estimates of $4.89 in EPS and $9.04 billion in revenue. The same period of last year reportedly had $6.95 in EPS and $10.04 billion in revenue.
During the quarter, return on equity was 11.1%, while return on tangible equity was 11.7%.
One of the highlights from the quarter was that Investing & Lending net revenues included record quarterly net interest income in debt securities and loans of $835 million.
Goldman Sachs also ranked first in worldwide completed mergers and acquisitions for the year to date, which contributed to strong net revenues in Financial Advisory of $887 million. The firm also ranked first in worldwide equity and equity-related offerings and common stock offerings for the year to date.
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In terms of its segments, Goldman Sachs reported:
- Investment Banking revenues increased 1% year over year to $1.81 billion.
- FICC revenues decreased 11% to $1.84 billion.
- Equities revenues decreased 24% to $1.77 billion.
- Investing & Lending revenues decreased 14% to $1.84 billion.
- Investment Management revenues decreased 12% to $1.56 billion.
The Basel III Advanced common equity tier 1 ratio for the quarter was 13.4%. Also at the end of the quarter, book value per share was $209.07 and tangible book value per share was $198.25.
The investment house offered no guidance in the report. However, consensus estimates call for $5.49 in EPS and $9.33 billion in revenue for the current quarter.
Shares of Goldman Sachs were last seen down 2.5% at $202.68, in a 52-week range of $151.70 to $262.25. The consensus price target is $230.43.
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Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
