NEW YORK CITY (dpa-AFX) - Goldman Sachs Group, Inc. (GS) on Monday reported
a rise in net earnings for the first-quarter, supported by increased revenue,
mainly driven by investment banking segmental revenue.

In addition, the lender's earnings and revenue beat the Street view.

Following the news, GS was trading up by 4.14 percent at $405.60 in the
pre-market trade on the New York Stock Exchange.

For the three-month period, the company posted profit of $3.93 billion or $11.58
per share, higher than $3.09 billion or $8.79 per share, recorded for the same
period last year.

On average, 17 analysts, polled by Thomson Reuters had expected the Group to
earn $8.56 per share, for the quarter. Analysts' estimates typically exclude
special items.

Total net revenues increased to $14.213 billion from last year's $12.224
billion.

Analysts, on average, had expected the Group to post revenue of $12.92 billion,
for the quarter.

Total operating expenses were $8.658 billion, up from $8.402 billion in 2023,
mainly due to higher compensation and benefits expenses, higher transaction
based costs, and an incremental expenditure for the FDIC special assessment fee.

The lender reported compensation and benefits of $4.585 billion as against
$4.090 billion a year ago.

Provision for credit losses was at $318 million, compared with a benefit of $171
million in 2023.

The net benefit for the last year period had reflected a reserve reduction of
around $440 million related to a partial sale of the Marcus loans portfolio and
the transfer of the remainder of the portfolio to be held for sale.

Assets under supervision increased $36 billion during the quarter to $2.85
trillion.

Total non-interest revenues improved to $12.605 billion from last year's $10.443
billion.

Revenue from Investment banking was at $2.085 billion, higher than $1.578
billion a year ago.

Net interest income, however, dropped to $1.608 billion from $1.781 billion in
2023.

Net revenues from Global Banking and Markets segment were $9.73 billion, up 15
percent from last year's $8.444 billion.

Net revenues from Asset and Wealth Management were $3.79 billion, up 18 percent
from last year's $3.216 billion.



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