Solomon’s comments come as the investment firm faces a tumultuous financial situation, having reported its weakest quarterly profits in three years. This is the latest hurdle in a two-year slump for Goldman Sachs, which has led to criticism aimed at Solomon and his leadership style. Goldman Sachs’s stocks are down 5.5% this year.

Arm Holdings, the chip designer owned by SoftBank Group, as well as online grocery shopping platform Instacart have been among the best-performing IPOs this year, boosting hopes for further success this year.

The post Goldman Sachs CEO Expects IPOs to Bolster Capital Markets appeared first on theprimarymarket.com.

Goldman Sachs’ saw its quarterly profit drop to $3.23 billion compared to the $3.83 billion it had during the same period last year. The earnings of $8.79 per share exceeded the $8.10 estimate from Wall Street analysts, but the revenue of $12.22 billion fell short of the expected $12.79 billion.

The bank’s disappointing performances in the first quarter were a result of quite deal making as well as several other factors. This includes the decision to offload a significant chunk of its Marcus loans portfolio that came with a $470 million loss.

Addressing the underwhelming results, Goldman Sachs’ David Solomon said that they should be viewed in light of the recent crisis in the banking industry.

“The events of the first quarter acted as another real-life stress test, demonstrating the resilience of Goldman Sachs and the nation’s largest financial institutions,” Solomon shared.

Goldman Sachs’ stock traded at $327.11 per share on Tuesday morning. The company’s shares are currently 5.5% down year-to-date.

The post Goldman Sachs Stock Slides 3.5% After Reported Profit Loss appeared first on theprimarymarket.com.

Solomon’s comments come as the investment firm faces a tumultuous financial situation, having reported its weakest quarterly profits in three years. This is the latest hurdle in a two-year slump for Goldman Sachs, which has led to criticism aimed at Solomon and his leadership style. Goldman Sachs’s stocks are down 5.5% this year.

Arm Holdings, the chip designer owned by SoftBank Group, as well as online grocery shopping platform Instacart have been among the best-performing IPOs this year, boosting hopes for further success this year.

The post Goldman Sachs CEO Expects IPOs to Bolster Capital Markets appeared first on theprimarymarket.com.

Goldman Sachs’ saw its quarterly profit drop to $3.23 billion compared to the $3.83 billion it had during the same period last year. The earnings of $8.79 per share exceeded the $8.10 estimate from Wall Street analysts, but the revenue of $12.22 billion fell short of the expected $12.79 billion.

The bank’s disappointing performances in the first quarter were a result of quite deal making as well as several other factors. This includes the decision to offload a significant chunk of its Marcus loans portfolio that came with a $470 million loss.

Addressing the underwhelming results, Goldman Sachs’ David Solomon said that they should be viewed in light of the recent crisis in the banking industry.

“The events of the first quarter acted as another real-life stress test, demonstrating the resilience of Goldman Sachs and the nation’s largest financial institutions,” Solomon shared.

Goldman Sachs’ stock traded at $327.11 per share on Tuesday morning. The company’s shares are currently 5.5% down year-to-date.

The post Goldman Sachs Stock Slides 3.5% After Reported Profit Loss appeared first on theprimarymarket.com.