UPDATE: Goldman Sachs (GS) Surprises To the Upside Again!
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Price: $1,033.99 -0.66%
Financial Fact:
Dividends declared per common share: 0.65
Today's EPS Names:
CHA, EDXC, YAYO, More
Financial Fact:
Dividends declared per common share: 0.65
Today's EPS Names:
CHA, EDXC, YAYO, More
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UPDATE: Goldman Sachs Group, Inc. (NYSE: GS) reported Q1 EPS of $3.23, versus the consensus of $2.58. Revenues came in at $8.34 billion, versus the consensus of $7.47 billion.
CEO, Lloyd C. Blankfein, said, "Market conditions are clearly very difficult. But we saw strong customer activity across many of our franchise businesses in the first quarter. Although market conditions present many challenges at the moment, they also offer considerable opportunities."
Net revenues in Investment Banking were $1.17 billion, 32% lower than the first quarter of 2007 and 41% lower than the fourth quarter of 2007.
Net revenues in Trading and Principal Investments were $5.12 billion, 46% lower than the first quarter of 2007 and 26% lower than the fourth quarter of 2007.
Net revenues in Asset Management and Securities Services were $2.04 billion, 28% higher than the first quarter of 2007 and 11% higher than the fourth quarter of 2007.
Compensation and benefits expenses were $4.00 billion, 35% lower than the first quarter of 2007, commensurate with lower net revenues.
Non-compensation expenses were $2.19 billion, 24% higher than the first quarter of 2007.
The effective income tax rate for the first quarter of 2008 was 29.5%, down from 34.1% for fiscal year 2007 and 34.2% for the first quarter of 2007.
As of February 29, 2008, total capital was $222.11 billion, consisting of $42.63 billion in total shareholders' equity (common shareholders' equity of $39.53 billion and preferred stock of $3.10 billion) and $179.48 billion in unsecured long-term borrowings. Book value per common share was $92.44 and tangible book value per common share was $80.28 (1), each increasing 2% during the quarter. Book value and tangible book value per common share are based on common shares outstanding, including restricted stock units granted to employees with no future service requirements, of 427.6 million at period end. [LJ]
CEO, Lloyd C. Blankfein, said, "Market conditions are clearly very difficult. But we saw strong customer activity across many of our franchise businesses in the first quarter. Although market conditions present many challenges at the moment, they also offer considerable opportunities."
Net revenues in Investment Banking were $1.17 billion, 32% lower than the first quarter of 2007 and 41% lower than the fourth quarter of 2007.
Net revenues in Trading and Principal Investments were $5.12 billion, 46% lower than the first quarter of 2007 and 26% lower than the fourth quarter of 2007.
Net revenues in Asset Management and Securities Services were $2.04 billion, 28% higher than the first quarter of 2007 and 11% higher than the fourth quarter of 2007.
Compensation and benefits expenses were $4.00 billion, 35% lower than the first quarter of 2007, commensurate with lower net revenues.
Non-compensation expenses were $2.19 billion, 24% higher than the first quarter of 2007.
The effective income tax rate for the first quarter of 2008 was 29.5%, down from 34.1% for fiscal year 2007 and 34.2% for the first quarter of 2007.
As of February 29, 2008, total capital was $222.11 billion, consisting of $42.63 billion in total shareholders' equity (common shareholders' equity of $39.53 billion and preferred stock of $3.10 billion) and $179.48 billion in unsecured long-term borrowings. Book value per common share was $92.44 and tangible book value per common share was $80.28 (1), each increasing 2% during the quarter. Book value and tangible book value per common share are based on common shares outstanding, including restricted stock units granted to employees with no future service requirements, of 427.6 million at period end. [LJ]
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