The Goldman Sachs Group, Inc. (NYSE:GS) posted better-than-expected earnings for its first quarter.
Goldman Sachs reported quarterly earnings of $14.12 per share which beat the analyst consensus estimate of $12.35 per share. The company reported quarterly sales of $15.06 billion which beat the analyst consensus estimate of $14.81 billion.
Provision for credit losses was $287 million for the first quarter, lower than $318 million a year ago quarter, reflecting net provisions related to the credit card portfolio.
David Solomon, Chairman and CEO of Goldman Sachs, said, “While we are entering the second quarter with a markedly different operating environment than earlier this year, we remain confident in our ability to continue to support our clients.”
Goldman Sachs shares gained 2.3% to trade at $515.32 on Tuesday.
These analysts made changes to their price targets on Goldman Sachs following earnings announcement.
Considering buying GS stock? Here’s what analysts think:
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