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Goldman Sachs beats estimates for first-quarter profit, but markets hurt revenue

April 15, 2019


Goldman Sachs shares declined after posting first-quarter revenue below analysts’ estimates on tougher market conditions for the firm’s trading and investing divisions.

The bank said Monday that revenue dropped 13 percent to $8.81 billion, below analyst’s $8.9 billion estimate. Meanwhile, the firm generated $2.25 billion of profit in the period, or $5.71 a share, exceeding the $4.89 estimate, the New York-based firm said in a release. That was largely from reining in compensation more than analysts had expected, according to a research note from Citigroup.

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