Goldman Sachs Group Inc (GS) Outperforms Market Expectations: 2Q14 EPS At $4.1

Investment banking major Goldman Sachs Group Inc (NYSE:GS) reported its second quarter Fy 2014 earnings earlier today. The $74 billion market cap financial behemoth reported generating net revenue of $9.13 billion and net earnings of $2.04 billion for the reporting quarter. This translates into earnings per share of $4.1 for 2Q14, as against the $3.7 EPS it had reported during 2Q13.

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It is interesting to note that ahead of the earnings call, the market analysts had estimated earnings per share to come in the range of $3.2. In fact, in pre-earnings coverage today morning, Eric Wasserstrom of SunTrust Robinson Humphrey had estimated on CNBC that for Goldman the EPS could stand at a little over $3, while the consensus stands at $3.20.

When quizzed by the CNBC presenter on the key metrics he would be keeping a eye on in Goldman Sachs Group Inc (NYSE:GS) 2Q results announcement, Mr Wasserstrom had listed out, “trading line, equity and fixed income” in addition to the “advisory results, the underwriting results and, of course, how they control expenses” as specific areas of interest to him.

The other key highlights from today’s earning call included the record $1.28 billion revenues that Goldman Sachs Group Inc (NYSE:GS). Underwriting business was able to record for the reporting quarter with the financial institutions total asset base consolidating at $860 billion. The bank also recorded operating expenses of $6.30 billion for the 2Q, which was 6 percent higher than 2Q13.

Goldman Sachs Group Inc (NYSE:GS) Chairman and Chief Executive Officer Lloyd C. Blankfein credited the banks stellar performance in 2Q to the “diversity, strength and breadth” of their global client franchise and singled out increased activity in “Investment Banking and Investment Management” as top drivers for them this past quarter.


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