April 15, 2024 - $Goldman Sachs (GS.US)$ shares rose 4.14% to $405.6 in pre-market trading on Monday. The Goldman Sachs Group, Inc. today announced its Q1 earnings results, reporting net revenues of $14.21 billion, which exceeded market expectations of $12.92 billion. The company also reported net earnings of $4.13 billion, representing YoY growth of 28%. Diluted EPS came in at $11.58, higher than the market expectation of $8.68.

Q1 Highlights

• During the quarter, the firm supported clients and continued to execute on strategic priorities, which contributed to strong quarterly net revenues of $14.21 billion, net earnings of $4.13 billion and diluted EPS of $11.58.

• Global Banking & Markets generated quarterly net revenues of $9.73 billion, driven by strong performances in Investment banking fees, Fixed Income, Currency and Commodities (including record quarterly net revenues in financing) and Equities (including the second highest quarterly net revenues in financing).

• The firm ranked #1 in worldwide announced and completed mergers and acquisitions for the year-to-date.

• Asset & Wealth Management generated quarterly net revenues of $3.79 billion, including record quarterly Management and other fees.

• Assets under supervision3 increased $36 billion during the quarter to a record $2.85 trillion.

• Book value per common share increased by 2.4% during the quarter to $321.10.

David Solomon, Chairman and CEO of Goldman Sachs, said, “Our first quarter results reflect the strength of our world-class and interconnected franchises and the earnings power of Goldman Sachs. We continue to execute on our strategy, focusing on our core strengths to serve our clients and deliver for our shareholders.”