17 November 2019

Goldman Sachs Trounces Estimates

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Goldman Sachs posted adjusted earnings per share of $3.70 for the second quarter easily beating Wall Street analysts' expectations of $2.88. Revenue was reported at $8.61 billion also beating expectations of $7.97 billion. Shares of Goldman are trading about 1.5% higher in the overnight trading.

The news continued to bolster the bank’s stock, which is up 23% this year.

"The firm’s performance was solid especially in the context of mixed economic sentiment during the quarter," Goldman CEO Lloyd Blankfein said in a statement. "Improving economic conditions in the U.S. drove client activity and the strength of our global client franchise allowed us to deliver positive performance across a number of our businesses. While the operating environment has shown noticeable signs of improvement, we continue to put a premium on disciplined risk management, particularly in regard to the firm’s strong capital and liquidity levels."

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