Notes
$GS - GOLDMAN SACHS (GS) Q1 RESULTS
🔸 Revenue: $15.06B (+6% y/y, beat $14.76B est.)
🔸 EPS: $14.12 (vs. $11.58 y/y)
🔸 FICC trading: $4.40B (miss $4.47B est.)
🔸 Equities trading: $4.19B (beat $3.8B est.)
🔸 Global Banking & Markets: $10.71B (+10% y/y, beat $10.42B est.)
🔸 Investment banking: $1.92B (-8.1% y/y, miss $2.03B est.)
🔸 Advisory: $792M (-22% y/y, miss $910M est.)
🔸 Equity underwriting: $370M (in line)
🔸 Debt underwriting: $752M (+7.6% y/y, beat $699M est.)
🔸 Net interest income: $2.90B (beat $2.28B est.)
🔸 Platform Solutions earnings: +$25M (vs. est. -$106M)
🔸 Deposits: $471B (+8.8% q/q)
🔸 Provision for credit losses: $287M (better than $410M est.)
🔸 Operating expenses: $9.13B (+5.4% y/y, in line)
🔸 Compensation: $4.88B (+6.3% y/y)
🔸 ROE: 16.9% (beat 14.9% est.)
🔸 ROTE: 18% (beat 16.1% est.)
🔸 CET1 ratio: 14.8% (slight miss vs. 15% est.)
🔸 Book value/share: $344.20 (up from $321.10 y/y)
🔸 Efficiency ratio: 60.6% (better vs. 61.6% est.)
🔸 AUM: $3.17T (+11% y/y, beat $3.15T est.)
🔸 Net inflows: $24B (vs. $15B outflows y/y, miss $34B est.)
🔸 Loans: $210B (beat $197.6B est.)
QUICK MARKET SUMMARY:
CONSUMER:
🔸 Calavo Growers ( $CVGW): $25M buyback.
🔸 Tesla ( $TSLA): Upgraded to Overweight at Cantor, PT $425.
🔸 Waldencast ( $WALD): Q4 EBITDA missed slightly; FY guidance below estimates.
ENERGY/INDUSTRIALS/MATERIALS:
🔸 Kratos ( $KTOS): Building $50M hypersonic facility in Indiana.
🔸 Mosaic ( $MOS): Upgraded to Overweight at Barclays, PT $33.
FINANCIALS:
🔸 Goldman Sachs ( $GS), Carlyle (CG), Jefferies (JEF): Downgraded at Oppenheimer.
🔸 Morgan Stanley ( $MS): Plans 2,000 job cuts.
🔸 StoneCo ( $STNE): Strong Q4 EPS and revenue beat; upbeat 2025 profit outlook.
HEALTHCARE:
🔸 Absci ( $ABSI): Missed Q4; cash runway into 1H’27.
🔸 Gilead ( $GILD): Shares drop as CDC HIV division review raises concerns.
🔸 HealthEquity ( $HQY): Slight Q4 miss; FY guidance in line.
🔸 Inovio ( $INO): Missed Q4; cash runway into Q1’26.
🔸 OmniAb ( $OABI): Revenue beat; stronger FY outlook.
🔸 Pfizer ( $PFE): Raised $3.3B from Haleon stake sale.
🔸 Purdue Pharma: Filed new bankruptcy plan for opioid settlement.
🔸 Trevi ( $TRVI): Positive trial data; strong cash position.
TECH/MEDIA/TELECOM:
🔸 Asana ( $ASAN): Filed mixed securities shelf.
🔸 Foxconn: Expects server revenue to surpass iPhones in 2 years.
🔸 FuboTV ( $FUBO): Partnered with Texas Rangers for streaming broadcasts.
🔸 HPE & NVIDIA ( $NVDA): Launched new AI solutions.
🔸 Oracle ( $ORCL) & NVIDIA (NVDA): Announced major AI integration.
🔸 Synopsys ( $SNPS) & NVIDIA: Teaming up to speed chip design.
🔸 Teradyne Robotics ( $TER): Showcasing AI robotics at NVIDIA GTC 2025.