Goldman Sachs Group, Inc. (GS) Posts Q1 EPS of $4.02, Tops Expectations
Goldman Sachs Group, Inc. (NYSE: GS) reported Q1 EPS of $4.02, $0.53 better than the analyst estimate of $3.49. Revenue for the quarter came in at $9.33 billion versus the consensus estimate of $8.7 billion.
- Goldman Sachs continued its leadership in investment banking, ranking first in worldwide completed mergers and acquisitions for the year-to-date. (2) The firm also ranked first in worldwide equity and equity-related offerings, common stock offerings and initial public offerings for the year-to-date. (2)
- Investment Banking produced net revenues of $1.78 billion, which is the highest quarterly performance since 2007.
- Investment Management generated strong net revenues of $1.57 billion, as assets under supervision increased to a record $1.08 trillion, including record quarterly net inflows in long-term assets under supervision of $40 billion (3).
- The firm continues to manage its liquidity and capital conservatively. The firm’s global core excess liquidity (4) was $175 billion (5) as of March 31, 2014. In addition, the firm’s Tier 1 capital ratio (6) was 16.3% (5) and the firm’s Common Equity Tier 1 ratio (6) was 14.6% (5) as of March 31, 2014.
“We are generally pleased with our performance for the quarter given the operating environment,” said Lloyd C. Blankfein, Chairman and Chief Executive Officer. “Investment Banking and Investment Management generated solid results, while market sentiment shifted throughout the quarter, constraining client activity in various parts of our franchise. Our collection of businesses gives the firm significant room for growth as economic conditions broadly improve and we continue to remain focused on prudently managing our capital and cost structure.”
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