Goldman Sachs Q1 earnings report tops estimates
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
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.