The Goldman Sachs Group Earnings: Here’s Why the Stock is Rising Now
The Goldman Sachs Group, Inc. (NYSE:GS) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 1.10%.
The Goldman Sachs Group, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 107.87% to $3.7 in the quarter versus EPS of $1.78 in the year-earlier quarter.
Revenue: Rose 0.21% to $8.61 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: The Goldman Sachs Group, Inc. reported adjusted EPS income of $3.7 per share. By that measure, the company beat the mean analyst estimate of $2.83. It beat the average revenue estimate of $7.98 billion.
Quoting Management: “The firm’s performance was solid especially in the context of mixed economic sentiment during the quarter,” said Lloyd C. Blankfein, Chairman and Chief Executive Officer. “Improving economic conditions in the U.S. drove client activity and the strength of our global client franchise allowed us to deliver positive performance across a number of our businesses. While the operating environment has shown noticeable signs of improvement, we continue to put a premium on disciplined risk management, particularly in regard to the firm’s strong capital and liquidity levels.”
Key Stats (on next page)…