Goldman Sachs beats analysts' expectations and is just minutes away from opening Wall Street earns more than 4% of its value at $319,6 per share. A positive quarterly which fuels the rally of the American stock market, which has started its second consecutive session on the rise with the Dow Jones rising by 2%, the S&P500 which scores +2,2% and the Nasdaq which runs by 2,4% .
Goldman Sachs Quarterly
In the third quarter of the 2022 Goldman Sachs take home a earning per share equal to 8,25 dollars, 50 cents higher than the 7,75 dollars estimated by Wall Street.
- to evaluate however, they fell 43% to $3,07 billion, while i revenues after expenses they recorded a decline of 12% to 11,98 billion. This figure also beat analysts' estimates, which expected revenues of 11,42 billion. Finally, i total revenues they stood at 18,48 billion.
Il Roe it is 11% in the third quarter and 12,2% in the first nine months of the year. The Red it is 12% in the three months and 13,1% in the 9 months.
'As we face uncertainty and market volatility, we continue to manage our resources prudently and remain focused on risk management,' commented the president and CEO David Solomon.
“We are confident – he added – that our strategic evolution will lead to higher and more stable returns, bringing long-term value to shareholders”.
The restructuring plan
As anticipated yesterday by the US newspapers, the investment bank has announced a new restructuring plan that will concern four divisions: investment banking, global markets, consumer and wealth management and asset management. The plan provides for the combination of investment banking and trading on the one hand and merging asset management and wealth management on the other. Marcus, the group's consumer bank, will be included in the latter division.
A third division will host the banking operation, the bank's portfolio of financial technology platforms, as well as GreenSky, a company specializing in lending, and initiatives with Apple and General Motors.
