The Goldman Sachs Group, Inc. (GS) reported its first-quarter results on April 15. The company comprehensively surpassed Wall Street’s EPS and revenue estimates. In this piece, I have discussed why it could be prudent to wait for a better entry point in the stock now despite the earnings and revenue beat.
For the first quarter, GS’s EPS was 34.1% above the consensus estimate, and its revenue was 9.9% higher than the analysts' estimates. GS’ first-quarter profit and revenue topped analysts’ expectations, driven by solid gains in trading and investment banking revenue. GS’ strong earnings marked two consecutive quarters of double-digit earnings gains. However, revenue growth decelerated over the past four quarters.
