Earnings season kicked off this week with banks such as JPMorgan Chase, Goldman Sachs and Wells Fargo posting first-quarter results, with the majority beating analysts estimates...
Elsewhere, Bank of America and Morgan Stanley also reported earnings.
Here is our round-up of what happened...
- Revenue was $33.12 billion, above analysts expectations of $30.52 billion.
- Earnings per share came in at $4.50, beating analysts view of $3.10
- Profit was $14.3 billion
- Shares are up at $153.68 as we approach the end of the week
- GS reported record first-quarter net profits.
- Goldman Sachs revenue was $17.7bn smashing the $12.83bn analysts had predicted.
- Earnings per share for the first quarter was $18.60, way above the $10.22 predicted.
- Shares are up 1.13% on Friday at $342.37.
- Revenue exceeded expectations of $17.5 billion, coming in at $18.06 billion.
- Its earnings per share was $1.05 above estimates of $0.70
- Wells Fargo shares have climbed 33% this year, exceeding the 25% gain of the KBW Bank Index, as it posts major improvements from last year.
- Bank of America reported earnings Thursday, with revenues climbing to $22.9 billion, vs $22.1 billion expected
- $0.86 per share, vs $0.66 per share expected
- BoA shares fell 2.86% following its Q1 earnings release but are trading 1.63% higher on Friday.
- Citigroup reported revenue of $19.3 billion topped the $18.8 billion estimate
- Profit of $7.94 billion or $3.62 per share again beating analyst expectations.
- Shares for the company are currently trading at $72.51, relatively unchanged from Thursday's close.
- Last but not least, Morgan Stanley were the last of the major banks this week to post its earnings.
- Revenue surged 61% to a record $15.7 billion, exceeding estimates by $1.6 billion.
- Earnings per share beat consensus, at $2.19 compared to predictions of $1.70
- Investment Banking revenue was a vast improvement jumping 128% to $2.61 billion.
- Morgan Stanley's share price is somewhat flat on Friday, trading at $80.44
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