Shares of Goldman Sachs shed nearly 4% after missing revenue estimates in its first-quarter earnings released before Tuesday's opening bell.
totaled $12.22 billion, below the $12.79 billion consensus estimate of analysts polled by Refinitiv. Fixed income, currencies and commodity trading was $3.93 billion in the first quarter, well below the $4.16 billion Wall Street estimate, according to FactSet. Goldman shares declined by nearly 4%. Goldman also said it took a $470 million hit tied to the sale of consumer loans in its Marcus unit.
— The drug and consumer products maker said first quarter sales rose 5.6% to $24.75 billion, above the $23.67 billion consensus estimate of analysts polled by Refinitiv. Adjusted earnings came in at $2.68 per share ex-items, above the consensus estimate of $2.50. The CEO noted "strong performance" across all three business segments with the company raising 2023 guidance midpoints. Shares of the Dow Industrials constituent gained more than 1% premarket.
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