Goldman Sachs stock leads Dow losers with other indexes also in the red Monday
Shares of Goldman Sachs Group Inc. dropped Monday, after the blue-chip bank again beat earnings expectations by a wide margin, but missed on revenue for the first time in two years.
Therefore, while equity and credit markets rebounded there was “lower client conviction,” although “client engagement” improved later in the quarter. Although Goldman has made a habit of beating both profit and revenue expectations, investors were more often than not left disappointed. Although the stock rose on the day the previous two earnings reports were released, it dropped on the day of the previous seven. And on the day of the past 20 quarterly reports, including Monday, the stock declined 14 times.
Within Goldman’s businesses, investment banking revenue inched up to $1.81 billion from $1.79 billion, topping the FactSet consensus of $1.65 billion to extend the beat streak to nine quarters. Chief Financial Officer Stephen Scherr said on the conference call that Goldman was conducting “broad and deep” reviews of its businesses, with no revenue source escaping scrutiny, in an effort to improve the client experience.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Goldman Sachs profit beats estimates on lower expenses, higher advisory feesGoldman Sachs Group Inc beat quarterly profit estimates on Monday as the bank ea...
Read more »
Here comes Goldman Sachs earnings...Goldman Sachs is scheduled to report first-quarter earnings on Monday.
Read more »
Goldman's stock gains as big profit beat helps offset revenue missShares of Goldman Sachs Group Inc. gained 0.5% in premarket trade Monday, after the blue-chip bank reported first-quarter earnings that were well above...
Read more »
Stocks making the biggest moves premarket: Goldman Sachs, CVS, Best Buy, Facebook & moreSome of the names on the move ahead of the open.
Read more »
Morgan Stanley, Goldman Sachs, and all 27 other banks working on Uber's mega-IPORBC Capital Markets, JMP Securities, Raymond James, and others managed to make it on the front page of both Lyft and Uber's coveted 2019 IPOs.
Read more »
Here comes Goldman Sachs ... (GS) | Markets InsiderGoldman Sachs crushes earnings and hikes dividend, but equity trading comes up short (GS)
Read more »
Goldman Sachs is set to report first-quarter earnings — here's what the Street expectsIt's only Goldman Sachs CEO David Solomon's second quarter running the bank, but analysts will have plenty of questions for him.
Read more »
Goldman Sachs says chance of a recession is now just 10%Goldman Sachs economists say Fed policy has reduced the risk of a recession over the next year to just 10% from a previous 20%, at the end of the fourth quarter.
Read more »
Former Goldman Sachs CEO Lloyd Blankfein cracks Twitter joke about bank CEOs being dragged before CongressFormer Goldman Sachs CEO Lloyd Blankfein was happy to be watching from the sidelines this week as CEOs from seven of the country's largest banks appeared before Congress.
Read more »
Goldman Sachs says Trump has a 'narrow advantage' in 2020 electionA second term for President Donald Trump is more likely than not, Goldman Sachs said.
Read more »