Goldman Sachs' Q2 Profits Tumble Due To Tepid M&A Activity: Performance By The Numbers
Portfolio Pulse from Vandana Singh
Goldman Sachs Group Inc (GS) reported a 60% Y/Y drop in Q2 EPS to $3.08, missing consensus estimates. Net revenues were $10.90 billion, 8% lower than Q2 2022 and 11% lower than Q1 2023, due to lower revenues in Global Banking & Markets and Asset & Wealth Management. The company also took a writedown of $504 million tied to its GreenSky business and $485 million related to its consolidated real estate investments. GS shares are down 1.56% in premarket trading.
July 19, 2023 | 12:42 pm
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Goldman Sachs reported lower than expected Q2 earnings and revenues, leading to a drop in its share price. The company also took significant writedowns related to its GreenSky business and real estate investments.
Goldman Sachs reported lower than expected earnings and revenues for Q2, which is likely to negatively impact investor sentiment and put downward pressure on the stock price. Additionally, the company took significant writedowns related to its GreenSky business and real estate investments, which could further dampen investor sentiment.
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