FX.co ★ Goldman Sachs net earnings decrease 20%

Goldman Sachs Group Inc. reported that net earnings went down 20 percent in Q1 of 2019 to $2.182 billion or $5.71 per share. Analysts noted that the indicator was lower than $2.737 billion or $6.95 per share recorded in the same period of 2018.

Net revenues of the bank for the reporting period decreased by 13 percent to $8.807 billion from $10.08 billion. Experts stated Goldman Sachs’ total income topped expectations. They forecasted net revenues at $8.93 billion or $4.89 per share.

Net revenues of the company in Institutional Client Services dropped 18 percent to $3.61 billion. According to the outlook, the indicator was expected at $3.69 billion. Bank's income from operations in fixed income, currency, and commodity markets (FICC) fell 11 percent to $1.84 billion in 1Q of 2019. Experts also noted a decline in revenues from operations with shares by 24 percent to $1.77 billion.

In the first quarter of this year, Goldman Sachs’ net revenues in Investment Banking remained unchanged at $1.81 billion. Net revenues in Financial Advisory grew by 51 percent to $887 million reflecting an increase in completed mergers and acquisitions deals.

Analysts recorded a tumble in net revenues in Investment and Lending sector by 14 percent to $1.84 billion, lower than $1.87 billion forecasted earlier. Since the beginning of this year, the market value of Goldman Sachs went up by 24.4 percent reaching $76.2 billion, while The Dow Jones Industrial Average index skyrocketed by 13.2 percent in the first quarter.