Goldman Sachs Earnings: First Year of Revenue Growth Since 2009
The Goldman Sachs Group, Inc. (NYSE:GS) delivered a profit and exceeded Wall Street’s expectations on both net income and revenue. The revenue beat is a positive sign to shareholders focused on turnaround top-line growth from Goldman Sachs. Shares are up 2.02%.
The Goldman Sachs Group, Inc. Earnings Cheat Sheet
Results: Net income increased 179.37% to $2.83 billion ($5.6 per diluted share) in the quarter versus a net gain of $1.01 billion in the year-earlier quarter.
Revenue: Rose 15.27% to $9.24 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: The Goldman Sachs Group, Inc. reported adjusted net income of $5.6 per share. By that measure, the company beat the mean analyst estimate of $3.78. It beat the average revenue estimate of $7.91 billion.
Quoting Management: “While economic conditions remained challenging for much of last year, the strengths of our business model and client franchise, coupled with our focus on disciplined management, delivered solid performance for our shareholders,” said Lloyd C. Blankfein, Chairman and Chief Executive Officer…