Goldman Sachs posts strong Q1 but shares fall nearly 2%
Goldman Sachs just posted some impressive first-quarter numbers, pulling in $5.63 billion in profit and $17.23 billion in revenue, both better than expected.
But investors weren't thrilled: the stock fell nearly 2% on Monday.
The main reasons? A $900 million miss in fixed-income trading and worries about rising tensions in Iran took the shine off those strong results.
Goldman Sachs loan-loss provisions surged
Goldman's asset and wealth management also came up short by $140 million, and its loan-loss provisions more than doubled, hinting at some stress behind the scenes.
CEO David Solomon pointed out that dealmaking stayed solid even with global risks looming, and equities trading hit a record high.
Meanwhile, competitors like JPMorgan Chase and Bank of America saw their shares edge up a bit, helping keep the broader financial market steady despite Goldman's slip.