Goldman Sachs posts strong numbers
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 15 April 2024
⏱️ 6 minutes
🧾️ Download transcript
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Small and midcap pair trades for every sector - Oppenheimer
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| 0:00.0 | Welcome to Seeking Alpha's Wall Street Lunch, our afternoon update on today's market action, news and analysis. |
| 0:09.0 | Good afternoon. Today is Monday, April 15th, and I'm'm your host Kim Khan. Our top story so far |
| 0:15.4 | Goldman Sachs turned in stronger than expected results with its core global banking and markets business rebounding |
| 0:21.0 | helped by debt underwriting activity. |
| 0:23.2 | Q1 GAP EPS of 1158 topped the 868 consensus and was up from 548 in Q4, 2023, and 879 in |
| 0:31.4 | Q1 2023. |
| 0:33.2 | Total net revenues of $14.2 billion, exceeding the 12.9 billion consensus, increased from $11.3 |
| 0:39.0 | billion in the previous quarter, and 12.2 billion a year ago. |
| 0:43.0 | Global banking and markets net revenue of 9.73 billion jump 53% quarter on quarter and 15% year |
| 0:49.1 | on year. Investment banking fees of 2.08 billion climb 26% quarter-on-quarter and 32% year-on-year, driven by debt underwriting, primarily in leveraged finance. |
| 1:00.0 | Thick revenue of 4.32 billion more than doubled quarter and quarter and rose 10% year on year. |
| 1:05.3 | Equity's revenue of 3.31 billion increased 27% quarter on quarter and 10% year on year. |
| 1:12.0 | Asset and wealth management net revenue of 3.79 billion slip 14% quarter-on-quarter, |
| 1:17.0 | but increased 18% year on year. |
| 1:19.0 | Goldman's results took some of the sting out of JP Morgan Chase's disappointing guidance on |
| 1:23.4 | Friday. That along with strong retail sales numbers for March, along with upward |
| 1:27.8 | February revisions, helped stocks early on but gains faded through the morning. |
| 1:31.6 | The major averages are still slightly in the green. |
| 1:34.4 | Overall global equities look little affected by Iran's tack on Israel. |
| 1:38.4 | Emily Bowerskock Hill, CEO of Bowersock Capital Partners,, absent a disruptive geopolitical event, such as a broader conflict in the Middle East, |
| 1:46.7 | the bull market remains intact. Historically, geopolitical shocks cause short-term volatility, |
| 1:52.2 | not long-term market declines. |
... |
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