The bank left behind analysts’ expectation as it posted record revenues and EPS
Goldman Sachs, one of the largest US investment banks, reported first-quarter 2021 figures that left Wall Street impressed.
The bank posted an EPS of $18.60, higher than the $10.22 expected. The figures represent a 498% increase from the same time last year. Moreover, the $17.7 billion in revenues topped the $12.6 billion consensus. On a year-over-year basis, the revenue more than doubled.
David Solomon, CEO of Goldman Sachs: “We have been working hard alongside our clients in preparation for a world beyond the pandemic and a more stable economic environment. “Our businesses remain very well positioned to help our clients reposition for the recovery, and that strength is reflected in the record revenues and earnings achieved this quarter.”
Following the report, Goldman Sachs stock price went up 1.7%. Since the beginning of the year, its shares climbed 24%.