Goldman Sachs Earnings: First Year of Revenue Growth Since 2009

The Goldman Sachs Group, Inc. (NYSE:GS) delivered a profit and exceeded Wall Street’s expectations on both net income and revenue. The revenue beat is a positive sign to shareholders focused on turnaround top-line growth from Goldman Sachs. Shares are up 2.02%.

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The Goldman Sachs Group, Inc. Earnings Cheat Sheet

Results: Net income increased 179.37% to $2.83 billion ($5.6 per diluted share) in the quarter versus a net gain of $1.01 billion in the year-earlier quarter.

Revenue: Rose 15.27% to $9.24 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: The Goldman Sachs Group, Inc. reported adjusted net income of $5.6 per share. By that measure, the company beat the mean analyst estimate of $3.78. It beat the average revenue estimate of $7.91 billion.

Quoting Management: “While economic conditions remained challenging for much of last year, the strengths of our business model and client franchise, coupled with our focus on disciplined management, delivered solid performance for our shareholders,” said Lloyd C. Blankfein, Chairman and Chief Executive Officer…

“The firm’s strategic position provides a solid basis on which to grow and generate superior returns.”

Key Stats:

Revenue decreased 8.91% from $10.14 billion in the previous quarter. Net income increased 87.17% from $1.51 billion in the previous quarter.

Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $3.47 to a profit $3.48. For the current year, the average estimate has moved up from a profit of $11.7 to a profit of $12.2 over the last ninety days.

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(Company fundamentals provided by Xignite Financials.)