Earnings Report: Goldman Sachs Blows Out Estimates, Earning $3.3 Billion Amid SEC’s Fraud Case

Earnings Report: Goldman Sachs Blows Out Estimates, Earning .3 Billion Amid SEC's Fraud Case

Goldman Sachs (NYSE:GS) reported fiscal Q1 earnings of .3 billion with its trading business again outperforming the rest of the financial industry. The better-than-anticipated earnings comes as a welcomed relief as the investment bank struggles to maintain its respected name in the wake of an SEC fraud case.

Goldman reported its quarterly EPS came in at .59, blowing past consensus estimates of .01.

Revenues in the quarter surged 35.5% year-over-year to .78 billion, vs. consensus estimates of .2 billion.

The company said it set aside 43% of revenue in order to pay expenses from employee salaries and bonuses, down from 50% for the same period last year.

“In light of recent events involving the firm, we appreciate the support of our clients and shareholders, and the dedication and commitment of our people,” said the bank’s CEO Lloyd Blankfein.

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