Highest Level of Quarterly Revenue Recorded in Four Years
Published By : 17 Apr 2015 | Published By : QYRESEARCH
The big players on Wall Street are getting their magic back. Citigroup Inc., Goldman Sachs Group Inc., and the Blackstone Group LP have each posted blowout earnings on Thursday which has topped analysts’ expectations and have signaled many of the financial industry’s cylinders which are firing.
These announcements were particularly high at Goldman Sachs that received a major boost from its trading desks which is a core focus for the company. This organization had stuck to businesses which even amidst the waves of upcoming regulations drove their competitors to focus on less risky, capital focused financial services and their executives have enjoyed a we-said-so moment recently.
This meeting was held in an auditorium of the Goldman’s downtown Manhattan headquarters and the firm’s chairman and also their chief executive informed them that the MDs would briefly savor the occasion prior to work, according to people with knowledge of the matter. These results according to Lloyd Blankfein were marked as the culmination of the years of work which the position the company held for the post crisis era.
Goldman recently earned a total of US$2.84 billion and was up from its previous figure of US$2.03 billion in the same duration of 2014. The total revenue climbed up to 14 per cent to US$10.62 billion which is the highest recorded figure in the last four years and there were strong gains from the merger advisory and trading fees.
Also, Goldman’s stock traders have done their best since the year 2010. This investment banking division has reached a seven year high. Also, the revenue from these bonds and the commodities and currencies has climbed from a year previously for the first time in duration of over a year.