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David Solomon, CEO of the Goldman Sachs, testifies during the Her’s Banking Committee’s hearings at the Senate Hart office in Washington, Columbia District, December 6, 2023.
Win McNamee | Gets the image
Goldman Sachs Monday posted the first quarter results This was headed by analysts’ expectations for stronger revenues from shares.
That’s what the company said:
- Profit: 14.12 dollars per share vs $ 12.35 LSEG estimate LSEG
- Revenue: 15.06 billion against the expected $ 14.81 billion
The bank said the profit increased by 15% compared to the previous period to $ 4.74 billion, or $ 14.12 per share, as the revenues increased more modest 6% to $ 15.06 billion. The Bank said the increase in trade revenue in the quarter offset a slight decrease in asset revenue and rich management compared to a year earlier.
The Goldman’s Global Banking and Markets Division increased by 10% of the $ 10.71 billion revenue, and the stock trade increased by 27% to $ 4.19 billion. This is about $ 540 million more than what analysts surveyed by Stretaccount predicted for the quarter.
The performance helped cover the signs of weakness elsewhere in Goldman. Its fixed income unit increased by only 2% compared to $ 4.4 billion a year earlier, scoring $ 4.56 billion. Investment banks fell by 8% to $ 1.91 billion, which is just below $ 1.94 billion on smaller advisory income.
CEO David Solomon hinted on the shock caused by President Donald Trump’s escalation this month:
“While we enter the second quarter with a noticeably different exploitation, than earlier this year, we remain confident in our ability to continue to support our customers,” Solomon said in the release.
Meanwhile, in the department of assets and management of companies, the proceeds decreased 3% a year earlier to $ 3.68 billion, slightly estimated $ 3.69 billion. Goldman said the decline occurred with “much lower” income from its investment, including private capital, state shares and debt.
Friday rivals Jpmorgan chase and Morgan Stanley Everyone headed expectations for the results of the first quarter on the stock.
The stock trading income increased by 48% and 45% in banks, respectively, due to the volatility in the opening months of President Donald Trump, amid his efforts to rearrange the global trade agreements.
This story develops. Please check the updates.
