posted first-quarter earnings Tuesday that topped analysts' estimates despite a 13% drop in profits from the year-ago quarter.
The investment bank reported net earnings of $768 million, or $1.40 a share, down from $887 million, or $1.76 a share, in the year-ago period. Fourteen analysts surveyed by
First Call/Thomson Financial
were expecting $1.29 a share, on average.
Revenue was $4.7 billion, up from $4.5 billion in the year-ago period. The financial advisory segments, trading businesses, asset management unit and securities services all reported record revenue.
Shares of Goldman Sachs were up $1.06, or 1.2%, to $92 in recent trading on the
New York Stock Exchange