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What will be Goldman Sachs' total assets under management by end of 2024?
3
Resolution / Starting Odds
Below $3.1 trillion • 25%
$3.1 to $3.2 trillion • 25%
$3.2 to $3.3 trillion • 25%
Above $3.3 trillion • 25%
Goldman Sachs annual financial report for 2024
Story
Goldman Sachs Beats Q3 Estimates with $8.40 EPS and $12.7B Revenue; Shares Rise 2.5%
Oct 15, 2024, 11:29 AM
Goldman Sachs Group Inc. reported third-quarter 2024 earnings that surpassed analysts' estimates, driven by strong performances in trading and investment banking. The bank's earnings per share rose to $8.40, exceeding the consensus estimate of approximately $6.89. Net revenue increased to $12.7 billion, beating expectations of about $11.8 billion. Net earnings were $2.99 billion. Investment banking revenue jumped 20% year-over-year to $1.86 billion, topping the estimated $1.68 billion. Equities sales and trading revenue reached $3.50 billion, surpassing the estimated $2.95 billion. FICC sales and trading revenue was $2.96 billion, in line with estimates. Net interest income totaled $2.62 billion, exceeding the forecasted $1.84 billion. Assets under management grew to $3.10 trillion, ahead of the expected $2.99 trillion. Total deposits rose by 2.8% quarter-over-quarter to $445 billion. The bank's annualized return on equity was 10.4%, with a year-to-date figure of 12.0%, while the annualized return on tangible equity was 11.1%. Goldman Sachs shares increased by approximately 2.5% in premarket trading following the earnings announcement.
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