Goldman Sachs shares slid over 6% in morning trading

Goldman Sachs shares slid over 6% in morning trading as fourth-quarter earnings missed Wall Street forecast.

The Goldman Sachs Group, Inc.  reported quarterly earnings of $10.81 per share which missed the analyst consensus estimate of $11.73 by 7.84 percent. This is a 10.51 percent decrease over earnings of $12.08 per share from the same period last year. The company reported quarterly sales of $12.64 billion which beat the analyst consensus estimate of $12.01 billion by 5.25 percent. This is a 7.66 percent increase over sales of $11.74 billion the same period last year.

Diluted earnings per common share (EPS) was $59.45 for the year ended December 31, 2021 compared with $24.74 for the year ended December 31, 2020, and was $10.81 for the fourth quarter of 2021 compared with $12.08 for the fourth quarter of 2020 and $14.93 for the third quarter of 2021. For the year ended December 31, 2020, net provisions for litigation and regulatory proceedings reduced diluted EPS by $9.51.

During the year, the firm generated record net revenues of $59.34 billion, record net earnings of $21.64 billion and record diluted EPS of $59.45, each significantly surpassing the previous record. In addition, ROE1 of 23.0% was the highest since 2007.