LONDON (ShareCast) - (Sharecast News) - Goldman Sachs flew past analysts' estimates for first quarter earnings.
Earnings per share for the three months ending on 31 March printed at $10.76, against the $8.89 that analysts had penciled-in.

Revenues also topped estimates, despite falling by 27% to $12.93bn, although that was better than the $11.83bn expected on the Street.

Asset Management revenues were particularly weak, falling by 88% from one year ago to $546m, while those form Investment Banking fell by just over a third to $2.41bn.

Global Markets and Consumer & Wealth Management revenues on the other hand both grew.

The lender also booked $561m in credit loss provisions for te quarter, against a $70m benefit in the comparable year ago quarter.

As of 1417 GMT, shares of Goldman Sachs were trading 1.87% higher to $327.97.

-- More to follow --

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