GS Q1 2018 Earnings Report — The Goldman Sachs Group, Inc. Revenue & Financial Results | Market Cap Arena

The Goldman Sachs Group, Inc.GS

Q1 2018 Earnings

Reported May 3, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q1 2018	Q4 2017	Q1 2017	QoQ Change	YoY Change
Revenue	$13.4B	$10.7B	$10.3B	25.6%	30.6%
Op. Income	$3.4B	$3.1B	$2.5B	10.0%	34.7%
Gross Margin	74.9%	73.4%	78.3%	1.5pp	-3.3pp
Net Margin	21.1%	-18.1%	22.0%	39.2pp	-0.8pp
EPS (Diluted)	$7.19	$-4.95	$5.37	245.3%	33.9%
Free Cash Flow	-$2.5B	-$7.6B	-$4.2B	66.7%	39.9%

Revenue Flow

Item	Amount
REVENUE	$13.4B
Cost of Revenue	$3.4B
GROSS PROFIT	$10.0B
R&D Expenses	$0
Selling & Marketing	$182M
General & Administrative	$4.1B
SG&A Expenses	$4.2B
Other Expenses	$2.4B
Operating Expenses	$6.6B
Cost & Expenses	$10.0B
OPERATING INCOME	$3.4B
Interest Income	$4.2B
Interest Expense	$3.3B
Other Income/Expenses	$0
INCOME BEFORE TAX	$3.4B
Income Tax Expense	$587M
Net Income from Continuing Ops	$2.8B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.8B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.7B
D&A	$299M
EBIT	$3.4B
EBITDA	$3.7B
EPS	$7
EPS Diluted	$7

Income Statement

Item	Amount
REVENUE	$13.4B
Cost of Revenue	$3.4B
GROSS PROFIT	$10.0B
R&D Expenses	$0
Selling & Marketing	$182M
General & Administrative	$4.1B
SG&A Expenses	$4.2B
Other Expenses	$2.4B
Operating Expenses	$6.6B
Cost & Expenses	$10.0B
OPERATING INCOME	$3.4B
Interest Income	$4.2B
Interest Expense	$3.3B
Other Income/Expenses	$0
INCOME BEFORE TAX	$3.4B
Income Tax Expense	$587M
Net Income from Continuing Ops	$2.8B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.8B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.7B
D&A	$299M
EBIT	$3.4B
EBITDA	$3.7B
EPS	$7
EPS Diluted	$7

Cash Flow Statement

Item	Amount
Net Income	$2.8B
Depreciation & Amortization	$299M
Stock-Based Compensation	$1.3B
Deferred Income Tax	$0
Other Non-Cash Items	$44M
Change in Working Capital	-$5.5B
OPERATING CASH FLOW	-$964M
Capital Expenditure	-$1.6B
Acquisitions (Net)	-$68M
Purchases of Investments	-$3.2B
Sales/Maturities of Investments	$183M
Other Investing Activities	-$4.6B
NET CASH FROM INVESTING	-$9.2B
Net Debt Issuance	$11.0B
Common Stock Repurchased	-$800M
Common Dividends Paid	-$376M
Other Financing Activities	$11.9B
NET CASH FROM FINANCING	$20.6B
FREE CASH FLOW	-$2.5B
Net Change in Cash	$10.5B

Balance Sheet

Item	Amount
Cash & Equivalents	$120.5B
Short-Term Investments	$131.5B
Net Receivables	$115.6B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$367.6B
PP&E (Net)	$15.8B
Goodwill	$3.7B
Intangible Assets	$342M
Long-Term Investments	$409.3B
Tax Assets	$0
Other Non-Current Assets	$176.8B
TOTAL NON-CURRENT ASSETS	$606.0B
TOTAL ASSETS	$973.5B
Account Payables	$191.0B
Short-Term Debt	$158.4B
Deferred Revenue	$0
Other Current Liabilities	$150.9B
TOTAL CURRENT LIABILITIES	$505.5B
Long-Term Debt	$236.7B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$147.8B
TOTAL NON-CURRENT LIABILITIES	$384.5B
TOTAL LIABILITIES	$890.0B
Common Stock	$9M
Additional Paid-In Capital	$54.0B
Retained Earnings	$93.9B
Treasury Stock	-$76.2B
Accum. Other Comp. Income	-$1.8B
Other Equity	$2.4B
TOTAL STOCKHOLDERS' EQUITY	$83.6B
Minority Interest	$0
TOTAL EQUITY	$83.6B
TOTAL LIABILITIES & EQUITY	$973.5B
Total Debt	$395.1B
Net Debt	$274.6B