Tuesday, April 17, 2018

Goldman Sachs Profit Jump 26%

Now Goldman has killed it....

First-quarter revenue at the Wall Street firm rose 25% from a year ago to $10.04 billion. Profits of $2.83 billion, or $6.95 a share, were up 26%. Both figures beat analyst expectations.
The $2.83B gets back already over half of the $5B hit they took due to the Jan 1 tax law changes... in just this one quarter.  They should get it all back and then some by end of June at this rate.

That Jan 1 markdown was probably over $30B system wide but we have seen this quarter JPM report $6B, BAC about $8B, Citi about $5B, WFC about $5B so that is about $25B+ back from C, GS, BAC, JPM, and WFC so that is about it... its taken them just 1Q to get almost all of it back.

Things should start to pick up again here shortly if no WW3.

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