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Have you been eager to see how The Goldman Sachs Group, Inc. (GS - Free Report) performed in Q1 in comparison with the market expectations? Let’s quickly scan through the key facts from this NY-based popular bank’s earnings release this morning:
An Earnings Beat
Goldman came out with earnings per share of $6.95, easily surpassing the Zacks Consensus Estimate of $5.67. Further, the figure compared favorably with earnings of $5.15 in the prior-year quarter. Higher revenues were primarily responsible for this earnings beat.
How Was the Estimate Revision Trend?
You should note that the earnings estimate revisions for Goldman depicted neutral stance prior to the earnings release. The Zacks Consensus Estimate remained stable over the last seven days.
Also, Goldman has a decent earnings surprise history. Before posting earnings beat in Q1, the company delivered positive surprises in three of the prior four quarters. Overall, the company surpassed the Zacks Consensus Estimate by an average of 11.42% in the trailing four quarters.
The Goldman Sachs Group, Inc. Price and EPS Surprise
Goldman posted revenues of $10 billion, outpacing the Zacks Consensus Estimate of $8.9 billion. Further, it compared favorably with the year-ago number of $8 billion.
Key Stats to Note:
Goldman recorded highest revenues in the last three years and second highest quarterly results in debt underwriting
Goldman repurchased 3 million shares of its common stock for a total cost of $800 million during the quarter
Annualized return on average common shareholders’ equity (ROE) was recorded at 15.4% for the first quarter
Fixed Income, Currency and Commodities Client Execution (FICC) revenues jumped 23% year over year in the quarter, recording highest quarterly results in three years
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #3 (Hold) for Goldman. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.
Following the earnings release, Goldman shares were up nearly 1% in the pre-trading session. This is in line to what the stock witnessed in the prior-day’s session. Clearly, the initial reaction shows that the investors have considered the results in their favor. However, the full-session’s price movement may indicate a different picture.
Check back later for our full write up on this Goldman earnings report!
Breaking News: Cryptocurrencies Now Bigger than Visa
The total market cap of all cryptos recently surpassed $700 billion – more than a 3,800% increase in the previous 12 months. They’re now bigger than Morgan Stanley, Goldman Sachs and even Visa! The new asset class may expand even more rapidly in 2018 as new investors continue pouring in and Wall Street becomes increasingly involved.
Zacks’ has just named 4 companies that enable investors to take advantage of the explosive growth of cryptocurrencies via the stock market.
Image: Bigstock
Goldman's (GS) Q1 Earnings & Revenues Beat Estimates
Have you been eager to see how The Goldman Sachs Group, Inc. (GS - Free Report) performed in Q1 in comparison with the market expectations? Let’s quickly scan through the key facts from this NY-based popular bank’s earnings release this morning:
An Earnings Beat
Goldman came out with earnings per share of $6.95, easily surpassing the Zacks Consensus Estimate of $5.67. Further, the figure compared favorably with earnings of $5.15 in the prior-year quarter. Higher revenues were primarily responsible for this earnings beat.
How Was the Estimate Revision Trend?
You should note that the earnings estimate revisions for Goldman depicted neutral stance prior to the earnings release. The Zacks Consensus Estimate remained stable over the last seven days.
Also, Goldman has a decent earnings surprise history. Before posting earnings beat in Q1, the company delivered positive surprises in three of the prior four quarters. Overall, the company surpassed the Zacks Consensus Estimate by an average of 11.42% in the trailing four quarters.
The Goldman Sachs Group, Inc. Price and EPS Surprise
The Goldman Sachs Group, Inc. Price and EPS Surprise | The Goldman Sachs Group, Inc. Quote
Revenue Came in Higher Than Expected
Goldman posted revenues of $10 billion, outpacing the Zacks Consensus Estimate of $8.9 billion. Further, it compared favorably with the year-ago number of $8 billion.
Key Stats to Note:
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #3 (Hold) for Goldman. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.
(You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.)
How the Market Reacted So Far
Following the earnings release, Goldman shares were up nearly 1% in the pre-trading session. This is in line to what the stock witnessed in the prior-day’s session. Clearly, the initial reaction shows that the investors have considered the results in their favor. However, the full-session’s price movement may indicate a different picture.
Check back later for our full write up on this Goldman earnings report!
Breaking News: Cryptocurrencies Now Bigger than Visa
The total market cap of all cryptos recently surpassed $700 billion – more than a 3,800% increase in the previous 12 months. They’re now bigger than Morgan Stanley, Goldman Sachs and even Visa! The new asset class may expand even more rapidly in 2018 as new investors continue pouring in and Wall Street becomes increasingly involved.
Zacks’ has just named 4 companies that enable investors to take advantage of the explosive growth of cryptocurrencies via the stock market.
Click here to access these stocks. >>