Goldman Sachs Q3 Profit, Revenues Surge - Update

(RTTNews) - Goldman Sachs Group, Inc. (GS) reported Tuesday that net earnings applicable to common shareholders for the third quarter surged to $2.78 billion or $8.40 per share from $1.88 billion or $5.47 per share in the prior-year quarter.

On average, 16 analysts polled by Thomson Reuters expected the company to report earnings of $6.89 per share for the quarter. Analysts' estimates typically exclude special items.

Provision for credit losses for the quarter was $397 million, compared to just $7 million last year.

Total net revenues for the quarter grew 7 percent to $12.70 billion from $11.82 billion in the same quarter last year. Analysts expected revenue of $11.80 billion for the quarter.

Net interest income for the quarter surged 70 percent to $2.62 billion, while total non-interest revenues decreased 2 percent to $10.08 billion from last year.

On Friday, the Board of Directors of The Goldman Sachs Group, Inc. declared a dividend of $3.00 per common share to be paid on December 30, 2024 to common shareholders of record on December 2, 2024.

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