Goldman Sachs Group (NYSE:GS) posted a 21% decline in first quarter earnings today.
Net income fell to $2.74 billion, or $1.56 per share, compared to $3.46 billion, or $5.59 per share, in last year’s first quarter.
Excluding a preferred dividend payment, Goldman said earnings totaled $4.38 per share.
Results exceeded analyst expectations.
Goldman Sachs shares are trading down slightly Tuesday.
Also today, U.S. Bancorp (NYSE:USB) reported first quarter earnings of $1.05 billion, or $0.52 per share, compared to $669 million, or $0.34 per share, in the same quarter last year.
Revenue rose 4.6%, to $4.52 billion, the bank said.
Adjusted earnings of $0.50 per share came in ahead of expectations.
U.S. Bancorp said its loan loss provisions declined sharply year-over-year.
Shares are trading down over 1.3% Tuesday.
The two stocks together make up 8.09% of the iShares Dow Jones U.S. Financial Services Index Fund (NYSE:IYG), trading down slightly. today.
Both are also in the top ten holdings of the Financial Select Sector SPDR Fund (NYSE:XLF), trading flat Tuesday.
U.S. Bancorp is more than 18% of the iShares Dow Jones U.S. Regional Banks Index Fund (NYSE:IAT), which is trading up over .2% Tuesday.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.
X
Wait! Don't leave yet.
Want to receive our latest research absolutely free?
⤹
Click the button below for your complimentary copy of Your Early Retirement Portfolio: Dividends Up to 8.7%—Every Month—Forever.
You'll discover the details on 4 stocks and funds that pay you massive dividends as high as 8.7%.