Goldman Sachs EPS rise 35% YoY in Q1 to $6.95

Business 4/17/2018, 1:39 PM
Goldman Sachs EPS rise 35% YoY in Q1 to $6.95

The American financial services giant Goldman Sachs reported on Tuesday its earnings per share (EPS) in the first quarter of the year stood at $6.95, marking a 35% rise compared to the same three-month period last year and the third highest quarterly performance overall. The net earnings for the quarter ended March 31, 2018 amounted to $2.83 billion.

Meanwhile, the bank made a net revenue of $10.04 billion, a 25% increase on an annual basis and the highest in three years, reflecting higher net revenues across all segments. The investment banking sector made a $1.79 billion of net revenue, including the second highest quarterly net revenues in debt underwriting. At the same time, Institutional Client Services generated a net revenue of $4.39 billion, while Investment Management produced record quarterly net revenues of $1.77 billion.

"Solid performance across our businesses produced strong returns in the first quarter. We are well positioned to serve our clients as the global economy continues to show strength and central banks unwind certain aspects of policy stimulus. We are also broadening our client base and further diversifying our businesses to drive more revenue and earnings growth for the firm," said Lloyd C. Blankfein, Chairman and Chief Executive Officer of Goldman Sachs.

Goldman Sachs shares increased after the release of the better-than-expected results, adding 0.82% in the pre-market trade.

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