Thursday 14th of April 2022 04:43:55 AM
Goldman Sachs Non-GAAP EPS of $10.76 beats by $1.78, revenue of $12.93B beats by $1.17B
- Goldman Sachs press release (NYSE:GS): Q1 Non-GAAP EPS of $10.76 beats by $1.78.
- Revenue of $12.93B (-26.9% Y/Y) beats by $1.17B.
- Annualized return on average common shareholders’ equity (ROE)1 was 15.0% and annualized return on average tangible common shareholders’ equity (OTC:ROTE)1 was 15.8% for the first quarter of 2022.
- Net revenues were $12.93 billion for the first quarter of 2022, 27% lower than the first quarter of 2021 and 2% higher than the fourth quarter of 2021. The decrease compared with the first quarter of 2021 reflected significantly lower net revenues in Asset Management and Investment Banking, partially offset by higher net revenues in Consumer & Wealth Management and Global Markets.
- Provision for credit losses was $561 million for the first quarter of 2022, compared with a net benefit of $70 million in the first quarter of 2021 and net provisions of $344 million in the fourth quarter of 2021. Provisions for the first quarter of 2022 primarily reflected portfolio growth (primarily in credit cards), the impact of macroeconomic and geopolitical concerns, and individual impairments on wholesale loans.
- Shares +1.9% PM.