Goldman Sachs Group Inc. Announces Drop In Q1 Bottom Line, but beats estimates

(RTTNews) - Goldman Sachs Group Inc. (GS) reported a profit for first quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line came in at $3.09 billion, or $8.79 per share. This compares with $3.83 billion, or $10.76 per share, in last year's first quarter.

Analysts on average had expected the company to earn $8.10 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 5.5% to $12.22 billion from $12.93 billion last year.

Goldman Sachs Group Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $3.09 Bln. vs. $3.83 Bln. last year. -EPS (Q1): $8.79 vs. $10.76 last year. -Analyst Estimates: $8.10 -Revenue (Q1): $12.22 Bln vs. $12.93 Bln last year.