Goldman Sachs Reports 2023 Third Quarter Earnings Per Common Share of $5.47 and Annualized Return on Common Equity of 7.1%

Πέμπτη, 19 Οκτωβρίου 2023 17:57
Goldman Sachs Reports 2023 Third Quarter Earnings Per Common Share of $5.47 and Annualized Return on Common Equity of 7.1%

The Goldman Sachs Group, Inc. reported net revenues of $11.82 billion and net earnings of $2.06 billion for the third quarter ended September 30, 2023. Diluted earnings per common share (EPS) was $5.47 for the third quarter of 2023 and annualized return on average common shareholders’ equity (ROE) was 7.1% for the third quarter of 2023. 

Please view printable versions of the Third Quarter 2023 Earnings Results [PDF] and the Third Quarter 2023 Earnings Results Presentation [PDF].

Selected items related to the execution of strategic goals outlined at Investor Day impacted the firm’s results this quarter, which in aggregate, reduced net earnings by $828 million, EPS by $2.41, and ROE by 3.1 percentage points. These items include: 

  • Results related to historical principal investments within Asset & Wealth Management (legacy investments the firm intends to exit over the medium term, a 3-5 year time horizon from year-end 2022),
  • Results related to GreenSky, which include the impact of our announced sale and ongoing operating results.
  • Modest ongoing losses in connection with the firm’s residual Marcus loans portfolio and operating Personal Financial Management.

David Solomon, Chairman and CEO of Goldman Sachs, said, “We continue to make significant progress executing on our strategic priorities and we’re confident that the work we’re doing now provides us a much stronger platform for 2024. I also expect a continued recovery in both capital markets and strategic activity if conditions remain conducive. As the leader in M&A advisory and equity underwriting, a resurgence in activity will undoubtedly be a tailwind for Goldman Sachs.”

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