Goldman Sachs profit falls 13% to miss consensus estimates

Dow Jones2022-01-18

MW Goldman Sachs profit falls 13% to miss consensus estimates

Goldman Sachs Group Inc. $(GS)$ said Tuesday its fourth-quarter net earnings fell 13% to $3.81 billion or $10.81 a share, from $4.36 billion or $12.08 a share, in the year-ago quarter. Revenue at the investment bank increased by 8% to $12.64 billion from $11.74 billion in the year-ago quarter. The investment bank missed the target of $11.77 a share in a survey of analysts by Factset, but beat the revenue target of $12.04 billion. The firm's investment banking revenue increased to $3.6 billion, ahead of the FactSet target of $3.24 billion and above the year-ago tally of $2.72 billion. Head count rose to 43,900 from 43,000 as of Sept. 30. Shares of Goldman Sachs fell 3.5% in premarket trades. As of Friday's close, Goldman Sachs shares are down 0.4% in 2022 and up 26.6% in the past year.

-Steve Gelsi

 

$(END)$ Dow Jones Newswires

January 18, 2022 07:49 ET (12:49 GMT)

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