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Financial services earnings roundup, Jan. 18

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Financial services earnings roundup, Jan. 18

With earnings season in gear, S&P Global Market Intelligence presents a snapshot of recently reported financial results for companies in the financial services space.

Broker/dealer

Goldman Sachs Group Inc. reported fourth-quarter 2016 net earnings applicable to common shareholders of $2.15 billion, or $5.08 per share, up from $574 million, or $1.27 per share, in the year-ago quarter.

The S&P Capital IQ consensus GAAP EPS estimate for the quarter was $4.74.

Net revenues, including net interest income, for the quarter rose 12% year over year to $8.17 billion from $7.27 billion.

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Charles Schwab Corp. reported fourth-quarter 2016 net income available to common stockholders of $478 million, or 36 cents per share, compared to $378 million, or 28 cents per share, in the year-ago period.

The S&P Capital IQ consensus GAAP EPS estimate for the quarter was 36 cents.

Total net revenues for the quarter increased 17% year over year to $1.97 billion from $1.69 billion.

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TD Ameritrade Holding Corp. reported net income for the first quarter of its fiscal 2017 of $216 million, or 41 cents per share, up from $212 million, or 39 cents per share, in the prior-year quarter.

The S&P Capital IQ consensus GAAP EPS estimate for the quarter was 41 cents.

Net revenues for the quarter ended Dec. 30, 2016, hit $859 million, up from $812 million in the year-ago quarter.

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Specialty lender

Sallie Mae reported fourth-quarter 2016 net income attributable to common stock of $64.7 million, or 15 cents per share, compared with $84.9 million, or 20 cents per share, in the year-ago quarter.

The decrease was related to a $58 million decrease in gains on sales of loans, net, and $13 million increases in both provision for credit losses and total non-interest expenses, offset by a $58 million increase in net interest income and a $12 million decrease in income tax expense.

Fourth-quarter 2016 core earnings attributable to common stock were $67.4 million, or 15 cents per share, compared with $84.6 million, or 20 cents per share, in the year-ago period.

The S&P Capital IQ consensus normalized EPS estimate for the quarter was 14 cents.