Goldman Sachs Q1 earnings report tops estimates

Author: Justin Low | Category: News

Another slight beat for financials following that of JP Morgan last Friday

  • EPS $5.71 vs $4.97 estimate
  • Equities sales and trading revenue $1.77 billion vs $1.83 billion estimate
  • FICC sales and trading revenue $1.84 billion vs $1.78 billion estimate
ForexLive
Equities trading may have missed but FICC trading revenue recorded just a 11% drop from last year. The estimate for that was for a 14% drop instead. Overall net revenue came in at $8.81 billion and that's roughly in the middle of a range of estimates, so that's neither a beat or a miss on the face of things.

As a whole, I'd take this as a win for Goldman as JP Morgan's earnings report was rather exceptional and would be tough for others to match up. That said, shares are paring some gains in pre-market trading now up just 0.5% after 1.0% gains earlier before the earnings report was released.

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