TELETRADER News
1/17, 1:29 PM
(Source: TeleTrader)
Goldman Sachs' revenue falls 16% to $10.6B in Q4
Goldman Sachs Group Inc. announced on Tuesday that its net revenue for the fourth quarter came to $10.6 billion, down 16% on an annual basis. The company attributed the fall to "significantly lower net revenues in Asset & Wealth Management and lower net revenues in Global Banking & Markets." Net earnings came to $1.3 billion, plunging 66% yearly. Diluted earnings per share (EPS) sank 69% to $3.32.
For the full year, the bank reported net revenues of $47.3 billion, 20% less than in 2021. Net earnings fell 48% year-on-year to $11.2 billion, while the EPS stood at $30.06, 49% lower than in 2021.
Goldman Sachs stock dropped 1.69% in premarket trade following the earnings release.