Goldman Sachs Group Inc (NYSE:GS) shares are trading higher Thursday after the company announced better-than-expected financial results.
Goldman said first-quarter revenue declined 27% year-over-year to $12.93 billion, which beat the $11.83 billion estimate. The company reported quarterly earnings of $10.76 per share, which beat the estimate of $8.82 per share.
Goldman said Investment Banking generated quarterly net revenue of $2.41 billion, including strong net revenue in financial advisory.
Consumer and Wealth Management generated record quarterly net revenue of $2.1 billion, reflecting continued strength in both wealth management and consumer banking.
Firmwide assets under supervision totaled $2.39 trillion and included long-term net inflows of $24 billion during the quarter.
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GS Price Action: Goldman has traded between $308.20 and $426.15 over a 52-week period.
According to data from Benzinga Pro, the stock was up 1.22% at $325.89 at press time.
Photo: Nesster from Flickr.
