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Have you been eager to see how The Goldman Sachs Group, Inc. (GS - Free Report) performed in Q2 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 $5.98, easily surpassing the Zacks Consensus Estimate of $4.67. Further, the figure compared favorably with earnings of $3.95 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 pessimism prior to the earnings release. The Zacks Consensus Estimate declined 1.1% over the last seven days.
Yet, Goldman has an impressive earnings surprise history. Before posting earnings beat in Q2, the company delivered positive surprises in all the prior four quarters. Overall, the company surpassed the Zacks Consensus Estimate by an average of 18.13% in the trailing four quarters.
The Goldman Sachs Group, Inc. Price and EPS Surprise
Goldman posted net revenues of $9.4 billion, outpacing the Zacks Consensus Estimate of $8.7 billion. Further, it compared favorably with the year-ago number of $7.9 billion.
Key Stats to Note:
Goldman recorded highest second-quarter revenues in the last nine years and ranked first in worldwide announced mergers and acquisitions year-to-date
Annualized return on average common shareholders’ equity (ROE) was recorded at 13.5% for the second quarter
Investment Banking revenues recorded third highest quarter, recording strong net revenues in both Financial Advisory and Underwriting
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 down nearly 1% in the pre-trading session. This is in contrary to what the stock witnessed in the prior-day’s session. Clearly, the initial reaction shows that the investors have not 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!
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It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
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Goldman's (GS) Q2 Earnings & Revenues Beat Estimates
Have you been eager to see how The Goldman Sachs Group, Inc. (GS - Free Report) performed in Q2 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 $5.98, easily surpassing the Zacks Consensus Estimate of $4.67. Further, the figure compared favorably with earnings of $3.95 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 pessimism prior to the earnings release. The Zacks Consensus Estimate declined 1.1% over the last seven days.
Yet, Goldman has an impressive earnings surprise history. Before posting earnings beat in Q2, the company delivered positive surprises in all the prior four quarters. Overall, the company surpassed the Zacks Consensus Estimate by an average of 18.13% 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 net revenues of $9.4 billion, outpacing the Zacks Consensus Estimate of $8.7 billion. Further, it compared favorably with the year-ago number of $7.9 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 down nearly 1% in the pre-trading session. This is in contrary to what the stock witnessed in the prior-day’s session. Clearly, the initial reaction shows that the investors have not 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!
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
See Them Free>>