Bank earnings growth thanks to tax cuts - WSJ [Seeking Alpha]
Goldman Sachs Group, Inc. (The) (GS)
Last goldman sachs group, inc. (the) earnings: 4/15 07:30 am
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Source: Seeking Alpha
Bank earnings growth thanks to tax cuts - WSJThe combined Q1 earnings of Goldman Sachs (NYSE:GS), JPMorgan (NYSE:JPM), Bank of America (NYSE:BAC), Citigroup (NYSE:C), and Wells Fargo (NYSE:WFC) were up by more than $2.5B thanks to lower corporate tax rates,according to theWSJ.While that's less than 10% of combined overall income, that $2.5B makes up for a sizable chunk of year-over-year earnings growth. Wells Fargo, in fact, would have seen earnings decline from one year ago, and Citigroup and BofA would have seen no growth.This below-the-hood analysis might explain the lame stock price reaction to big headline earnings beat announced by each of these five lenders in recent days. Not included, in theWSJ analysis, Morgan Stanley (NYSE:MS) also reported a sizable beat this morning, and it too is now in the red.ETFs:XLF,FAS,FAZ,VFH,UYG,FNCL,IYF,BTO,IYG,RYF,FXO,SEF,FINU,RWW,FINZ,JHMF,FAZZ,FNCFClick to subscribe to real-time analytics on BACNow read:XLF: Will Bank Stocks Become A Safe Have
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News
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Earnings
- 4/15/24 - Beat
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Sec Filings
- 5/8/24 - Form 424B2
- 5/8/24 - Form 424B2
- 5/8/24 - Form 424B2
- GS's page on the SEC website