Investing.com – Goldman Sachs (NYSE:GS) handily beat consensus with its first quarter earnings-per-share on Tuesday, though revenues came in lower-than expected.
Specifically, the investment bank reported diluted earnings-per-share (EPS) of $2.68, compared to $5.94 in the first quarter of 2015.
Net revenues tumbled 40.3% to settle in at $6.34 billion, having fallen from the $10.62 billion reported in the same period last year.
Analysts had forecast EPS of $2.43 on revenue of $6.73 billion.
“The operating environment this quarter presented a broad range of challenges, resulting in headwinds across virtually every one of our businesses,” Goldaman Sachs chairman and CEO Lloyd Blankfein admitted in the statement.
“Looking ahead, we will continue to focus on delivering superior service to our clients and managing our business efficiently, which remain essential to generating shareholder value
over the long term.,” he added.
After the report, shares in Goldman Sachs traded down 0.64% to $158.00 in the pre-market.