Goldman Sachs: quarterly revenue disappoints

(CercleFinance.com) - Goldman Sachs reported better-than-expected quarterly earnings on Tuesday, but revenue fell short of expectations, sending its stock stumbling in pre-market trading on Wall Street.


The US bank's Q1 net income came in at $3.23bn, or $8.79 per share, compared with $3.94 bn (or $10.76 per share) a year ago.

By comparison, the consensus was looking for EPS of around $8.10 per share.

Net banking income (NBI) - which includes net interest income - fell by 5% to $12.2bn, while analysts expected around $12.8bn.

The New York-based firm, the world's leading M&A advisory firm, said it generated $8.4bn from its capital markets business in the quarter, in particular thanks to the strength of its FICC (bonds, foreign exchange, commodities) trading division.


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