Home Editor's Picks Goldman Sachs jumps following solid Q1 earnings beat and we told you in advance

Goldman Sachs jumps following solid Q1 earnings beat and we told you in advance


Investing.com — Despite the mixed results from bank earnings over the last two trading sessions, savvy investors who were smart enough to allocate resources to Goldman Sachs Group (NYSE:GS) going into earnings are now collecting some nice profits as the stock surpassed analysts’ estimates on both profitability and EPS.

Conversely, investors who placed their bets on JPMorgan Chase (NYSE:JPM) are unfortunately grappling with the stock’s significant 7% drop last Friday. The banking giant’s less-than-optimistic outlook for its 2024 revenue growth serves as a stark reminder of the need for careful consideration and due diligence in investment decisions.

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As of this writing, Goldman Sachs’ stock is surging by 4%. This quarter’s success can be attributed to the firm’s diverse revenue streams, which saw notable performances in Investment Banking, Fixed Income, Currency and Commodities, and Equities. The Asset & Wealth Management segment also played a significant role, reporting an 18% increase in net revenues compared to the first quarter of the previous year.

GS’s success adds to our already long list of earnings season winners picked in 2024, such as:

Meta Platforms (NASDAQ:META) – Up 21.75% immediately after Q4 23 beat.
Cirrus Logic (NASDAQ:CRUS) – Up 14.2% immediately after Q3 23 beat.
Super Micro Computer (NASDAQ:SMCI) – Up 8.9% immediately after Q2 24 beat.
PACCAR (NASDAQ:PCAR) – Up 4% immediately after Q4 23 beat.
American Express (NYSE:AXP) – Up 6.9% immediately after Q4 23 beat.
NVIDIA Corporation (NASDAQ:NVDA) – Up 13.1% immediately after Q4 24 beat.
Goldman Sachs Group – Up 3.5% after Q4 23 beat.
DEXX Laboratories (NASDAQ:IDXX) – Up 7.56% immediately after Q4 23 beat.

(*Note that companies may count their fiscal years differently)

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