Goldman Sachs Earnings: GS Stock Surges on Stellar Q4

GS beat Q4 EPS and revenue estimates

Goldman Sachs earnings for the fourth quarter of 2018 has GS stock on the rise today.

Goldman Sachs Earnings: GS Stock Surges on Stellar Q4
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Goldman Sachs (NYSE:GS) starts off its earnings report for the fourth quarter of 2018 with earnings per share of $6.04. This is much better than the company’s losses per share of $5.51 from the fourth quarter of 2017. It is also a blessing to GS stock by coming in above Wall Street’s earnings per share estimate of $5.61 for the period.

Goldman Sachs earnings for the fourth quarter of the year also includes net income of $2.54 billion. The banking company’s net loss from the same period of the year prior was $1.93 billion.

Revenue reported in the Goldman Sachs earnings report for the fourth quarter of 2018 came in at $8.08 billion. This is a drop from the company’s revenue of $8.12 billion reported in the fourth quarter of the previous year. However, it was still a win for GS stock by beating out analysts’ revenue estimate of $7.78 billion for the quarter.

The most recent Goldman Sachs earnings report also includes its results for the full year of 2018. The company reported earnings per share of $25.27 on revenue of $36.62 billion. The company’s earnings per share and revenue for the previous year was $9.01 and $32.73 billion. This is a boon to GS stock as Wall Street was looking for earnings per share of $24.86 on revenue of $35.87 billion for the full year of 2018.

GS stock was up 8% as of Wednesday afternoon.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2019/01/goldman-sachs-earnings-send-gs-stock-higher/.

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