Summary
Goldman Sachs Group, Inc. (GS) reported strong financial results for the first quarter of 2024, with net earnings of $4.13 billion, a significant increase from $3.23 billion in the first quarter of 2023. Diluted Earnings Per Share (EPS) rose to $11.58 from $8.79 year-over-year. The company's net revenues increased by 16% to $14.21 billion, driven by robust performance across all segments, particularly in Global Banking & Markets, which saw higher revenues from investment banking and trading activities. Asset & Wealth Management also showed solid growth, benefiting from higher assets under supervision and private banking and lending activities. The firm maintained a strong Common Equity Tier 1 (CET1) capital ratio, reflecting its solid capital position and effective risk management.
Financial Highlights
37 data points| Interest Expense | $18.18B |
| Net Income | $4.13B |
| EPS (Basic) | $11.67 |
| EPS (Diluted) | $11.58 |
| Shares Outstanding (Basic) | 335.60M |
| Shares Outstanding (Diluted) | 339.50M |
Key Highlights
- 1Net earnings increased by 28% year-over-year to $4.13 billion.
- 2Diluted EPS grew by 32% year-over-year to $11.58.
- 3Total net revenues rose 16% to $14.21 billion.
- 4Global Banking & Markets segment saw a 15% increase in net revenues, driven by strong performance in Investment Banking and FICC/Equities activities.
- 5Asset & Wealth Management net revenues increased by 18%, with notable growth in Private Banking & Lending and Equity Investments.
- 6Provision for credit losses was $318 million, a substantial increase from the prior year's net benefit of $171 million, indicating a more cautious stance on credit quality.
- 7The firm returned $2.43 billion to shareholders in the first quarter of 2024 through share repurchases ($1.50 billion) and dividends ($929 million).