Goldman Sachs' Asset & Wealth Management Revenue Shines In Q4; Hits $225B Alternatives Fundraising Target
Portfolio Pulse from Vandana Singh
Goldman Sachs Group Inc (NYSE:GS) reported a Q4 2023 GAAP EPS of $5.48, beating the consensus of $3.43. Despite a 24% Y/Y dip in net income for fiscal 2023, Q4 net income rose 51% to $2 billion. Q4 revenue was $11.32 billion, up 7% Y/Y, with Asset & Wealth Management revenue increasing 23% Y/Y to $4.39 billion. The firm hit its $225 billion alternatives fundraising target. GS shares rose 0.25% to $378.69.
January 16, 2024 | 2:35 pm
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POSITIVE IMPACT
Goldman Sachs reported strong Q4 earnings with a significant beat on EPS and a notable increase in net income. The Asset & Wealth Management division performed exceptionally, contributing to a rise in shares.
The positive earnings report, particularly the beat on EPS and the strong performance of the Asset & Wealth Management division, is likely to instill investor confidence and could lead to a short-term positive impact on the stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100