Despite the results beating analyst estimates, the article said shares fell roughly 2% in recent trading as investors worried about a broader stock market selloff and picked through the details of the bank’s trading results.
The New York investment bank posted net income of $2.24 billion, up from the year-earlier $1.52 billion. Earnings per share—reflecting the payment of preferred dividends--were $4.57, compared with analysts’ expected per-share earnings of $3.21.Sponsor Content
“The combination of improving economic conditions in the U.S. and a strong global franchise continued to drive client activity across our diverse set of businesses,” said Lloyd C. Blankfein, Goldman’s chairman and chief executive officer. “While conditions and sentiment can shift quickly, the strength of our transaction backlog indicates our clients’ desire to pursue and execute their strategic plans for growth.”