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Goldman (GS) Reports Q1 Earnings: What Key Metrics Have to Say
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For the quarter ended March 2023, Goldman Sachs (GS - Free Report) reported revenue of $12.22 billion, down 5.5% over the same period last year. EPS came in at $8.79, compared to $10.76 in the year-ago quarter.
The reported revenue represents a surprise of -6.16% over the Zacks Consensus Estimate of $13.03 billion. With the consensus EPS estimate being $8.14, the EPS surprise was +7.99%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Goldman performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Assets Under Supervision (AUS) - Total: $2672 billion versus $2587.9 billion estimated by four analysts on average.
Efficiency Ratio: 68.7% compared to the 64.48% average estimate based on four analysts.
Standardized Capital Rules - Common equity tier 1 capital ratio: 14.8% versus the four-analyst average estimate of 14.76%.
Leverage ratio: 5.8% versus 5.75% estimated by three analysts on average.
Net Revenues- Global Banking & Markets- Advisory: $818 million versus $954.75 million estimated by five analysts on average.
Net Revenues- Platform Solutions- Total: $564 million versus the five-analyst average estimate of $490.32 million.
Net Revenues- Global Banking & Markets- Debt underwriting: $506 million versus the five-analyst average estimate of $488.84 million.
Net Revenues- Global Banking & Markets- Investment banking fees: $1.58 billion compared to the $1.66 billion average estimate based on five analysts.
Net Revenues- Global Banking & Markets- Equity underwriting: $255 million compared to the $214.38 million average estimate based on five analysts.
Net Revenues- Platform Solutions- Transaction banking and other: $74 million compared to the $82.20 million average estimate based on five analysts.
Net Revenues- Platform Solutions- Consumer platforms: $490 million versus $408.12 million estimated by five analysts on average.
Net Revenues- Asset & Wealth Management- Total: $3.22 billion versus $3.83 billion estimated by five analysts on average.
Shares of Goldman have returned +9.7% over the past month versus the Zacks S&P 500 composite's +6.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Goldman (GS) Reports Q1 Earnings: What Key Metrics Have to Say
For the quarter ended March 2023, Goldman Sachs (GS - Free Report) reported revenue of $12.22 billion, down 5.5% over the same period last year. EPS came in at $8.79, compared to $10.76 in the year-ago quarter.
The reported revenue represents a surprise of -6.16% over the Zacks Consensus Estimate of $13.03 billion. With the consensus EPS estimate being $8.14, the EPS surprise was +7.99%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Goldman performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Assets Under Supervision (AUS) - Total: $2672 billion versus $2587.9 billion estimated by four analysts on average.
- Efficiency Ratio: 68.7% compared to the 64.48% average estimate based on four analysts.
- Standardized Capital Rules - Common equity tier 1 capital ratio: 14.8% versus the four-analyst average estimate of 14.76%.
- Leverage ratio: 5.8% versus 5.75% estimated by three analysts on average.
- Net Revenues- Global Banking & Markets- Advisory: $818 million versus $954.75 million estimated by five analysts on average.
- Net Revenues- Platform Solutions- Total: $564 million versus the five-analyst average estimate of $490.32 million.
- Net Revenues- Global Banking & Markets- Debt underwriting: $506 million versus the five-analyst average estimate of $488.84 million.
- Net Revenues- Global Banking & Markets- Investment banking fees: $1.58 billion compared to the $1.66 billion average estimate based on five analysts.
- Net Revenues- Global Banking & Markets- Equity underwriting: $255 million compared to the $214.38 million average estimate based on five analysts.
- Net Revenues- Platform Solutions- Transaction banking and other: $74 million compared to the $82.20 million average estimate based on five analysts.
- Net Revenues- Platform Solutions- Consumer platforms: $490 million versus $408.12 million estimated by five analysts on average.
- Net Revenues- Asset & Wealth Management- Total: $3.22 billion versus $3.83 billion estimated by five analysts on average.
View all Key Company Metrics for Goldman here>>>Shares of Goldman have returned +9.7% over the past month versus the Zacks S&P 500 composite's +6.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.