The number looks good, but obviously we’ll have to dig more…
$EPS 2.98 is ahead of the $2.28 analysts were looking for.
Revenue of $8.9 billion is ahead of the $7.9 billion estimates.
The stock is drifting up slightly pre-market.
The announcement is here.
As for some divisional numbers:
Fixed Income, Commodities, and Currency revenue of $3.7 billion was a bit stronger than estimates, so that’s good, though the number was off 37% from last year.
I-banking revenue of $1.12 billion was also a little stronger thane estimates.
Bottom line: it looks like a decent number, at least compared to expectations.
Background: Analysts are looking for earnings of $2.28 per share on revenue of $7.92 billion. Bear in mind that both of those numbers are way down from where they were just 90 days ago, when analysts were expecting over $4 per share.
We’ll be especially focused on trading revenue. Credit Suisse is looking for $3.4 billion Fixed Income, Commodities, and Currency revenue.
At the old-fashioned i-bank, revenue is expected to hit about $1 billion.