Consumer banking revenue rose 5% year over year to $8.3 billion on the back of strong growth in deposits, although mortgage banking income ticked lower.
Goldman's trading desks struggled in the first quarter, a sharp contrast to its competitors who all reported gains in trading last quarter and set investors' expectations that Goldman would perform just as well or better.
Goldman chairman and chief executive Lloyd Blankfein said the environment was "mixed" and client activity was "challenged".
Yet Goldman failed to get the same trading bump as rivals J.P. Morgan and Citigroup last week. Oppenheimer Holdings Inc. reiterated an "outperform" rating and issued a $256.00 price target (up previously from $252.00) on shares of Goldman Sachs Group in a report on Tuesday, January 24th.
Goldman shares were down 2.8 percent at $219.95 in premarket trading.
Despite strong gains in USA stocks at the beginning of this year which boosted the markets revenues of most big banks, Goldman Sachs did not benefit from trading almost as much as investors had expected during the quarter. FMR LLC now owns 9,910,801 shares of the investment management company's stock valued at $2,373,141,000 after buying an additional 3,722,471 shares in the last quarter.
Analysts on average had expected earnings of $5.31 per share, according to Thomson Reuters I/B/E/S.
Investment-banking revenue, which includes fees from underwriting as well as advising on mergers, climbed 16% in the quarter.
Firm wide, the bank's had net revenue of $8.03 billion compared with $6.34 billion in the same period a year earlier. Given that its peers found universal success in trading during the first quarter, Wall Street wasn't happy to take that answer at face value, perhaps believing that the decline in trading income may be more than just a one-time occurrence. Goldman's shares tumbled 4.2 percent to $216.80.
Until Tuesday, Goldman Sachs stock was arguably the poster child for the Trump Bump: During the stock market rally since the President was elected, the bank had contributed more to the rise of the Dow Jones industrial average than any other company.
Goldman has historically relied more on trading than other big banks, but has been trying to shift to relatively stable businesses like investment management and lending.
The officer said the vehicle appeared to stall, and he got out to speak to the driver and could smell marijuana. Hollins was charged with marijuana possession, obstruction of a police officer and several traffic citations.
House members say new taxes are needed to close the $2.7 billion gap between what the state government spends and what it raises. The prospects for the Green Mountain State legalizing marijuana this year grow exceedingly dim.
He said he began watching " Survivor " at a time when he was dealing with both depression and transitioning. Zeke Smith , a contestant on CBS's Survivor, has been publicly outed as transgender by another contestant.
The combination of factors could keep a lid on oil prices, which have risen in the past six months after a three-year slump. Meanwhile, it said, OPEC's oil production fell by 365,000 barrels a day in March as Nigeria and Libya suffered outages.
Now I can't wait for the first proper full trailer for The Last Jedi , likely coming at some point this summer. The Last Jedi follows up where 2015's cultural and box office titan Star Wars: The Force Awakens left off.
A celebration entitled, The woman who saw three centuries, was held in Verbania in honor of her 117th birthday. The world's oldest living person is now believed to be Violet Brown , a Jamaican woman born on March 10, 1900.
The announcement comes almost two months after the district attorney said a DNA profile of a suspect had been developed. Early said that he anticipates bringing a murder charge against Colon-Ortiz as the investigation progresses.
An Anthony trade would essentially turn the keys of the franchise, at least the on-court product, over to Kristaps Porzingis . NY went 31-51, falling well short of expectations with its third consecutive 50-loss season.
The new World Car of the Year has contributed to record sales growth by attracting new customers to the brand. Jaguar launched the F-Pace SUV in India a year ago with two engine options and four trim options overall.
Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, rose 0.50 per cent to 842.41 tonnes on Tuesday. Palladium slipped 0.2 percent to $799.45 after touching its weakest in more than a week at $784.72 in the previous session.
No need for Trump's approval to use massive bomb
Nicholson said thorough surveillance was conducted in the area to ensure no civilian casualties. Earlier, President Doland Trump praised America's military for firing the bomb in Afghanistan .
Tillerson Says US and Russia Remain Divided on Syria
Russian Relations is at a low point", Tillerson, who is in Moscow for meetings, said at a joint news conference Wednesday. Earlier this week, Turkish doctors also said that test results conducted on victims confirmed that sarin gas was used.
Kashmir students clash with Indian troops; many injured
They engaged in intense clashes with the security men across the Valley during which scores of students' sustained injuries. A spokesman of Kashmir University said all university examinations scheduled for tomorrow have been postponed.
Russia Relations May Be At An 'All-Time Low'
We're not going to use it", he told Agence France-Presse. "A successful ouster of a dictator is for me very hard to remember". The statement was made soon after Russian President Vladimir Putin gave the same assessment earlier in the day.
4 bodies found in N.Y. park near area of gang violence
Commissioner Sini had not yet shared with the public why and how his officers were alerted to the horrific crime scene. Sources said the bodies were beginning to decompose and that MS-13 is believed to be behind the slayings.
S8 Pre-orders Surpass Previous Models — Samsung
Although its predecessor, the Galaxy S7 was an incredible device , the Galaxy S8 comes out on top when both of these are compared. The Samsung Galaxy S8 is the first smartphone to be unveiled with Bluetooth 5, the next-generation Bluetooth standard.
IS ouster clears way for football comeback in Iraq's Mosul
"The Iraqi security forces retain control of both main routes west from Mosul, eliminating enemy freedom of movement", he added. The United States and other Western countries have assisted with air support, intelligence and equipment, General Rasool said.
Assad says army 'gave up' all chemical weapons
Much as in 2013, the United States has used protecting the chemical weapons taboo as justification for possible military action. Rycroft said "samples obtained from Khan Sheikhun" have "tested positive for the nerve agent sarin or a sarin-like substance".
Exchange Club Holds 53rd Annual Easter Egg Hunt
FREE EASTER EGG HUNT Toys R Us is hosting an Easter Egg Hunt for the kids, with Geoffrey the giraffe on Sunday, April 9th. There will be 1,200 eggs hidden for Saturday's event. "It's really good because it's safe and keeps the kids contained".