Goldman Sachs shares slid over 6% in morning trading

Tiger Newspress2022-01-18

Goldman Sachs shares slid over 6% in morning trading as fourth-quarter earnings missed Wall Street forecast.

The Goldman Sachs Group, Inc. reported quarterly earnings of $10.81 per share which missed the analyst consensus estimate of $11.73 by 7.84 percent. This is a 10.51 percent decrease over earnings of $12.08 per share from the same period last year. The company reported quarterly sales of $12.64 billion which beat the analyst consensus estimate of $12.01 billion by 5.25 percent. This is a 7.66 percent increase over sales of $11.74 billion the same period last year.

Diluted earnings per common share (EPS) was $59.45 for the year ended December 31, 2021 compared with $24.74 for the year ended December 31, 2020, and was $10.81 for the fourth quarter of 2021 compared with $12.08 for the fourth quarter of 2020 and $14.93 for the third quarter of 2021. For the year ended December 31, 2020, net provisions for litigation and regulatory proceedings reduced diluted EPS by $9.51.

During the year, the firm generated record net revenues of $59.34 billion, record net earnings of $21.64 billion and record diluted EPS of $59.45, each significantly surpassing the previous record. In addition, ROE1 of 23.0% was the highest since 2007.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

PearlynCSY
2022-01-19
PearlynCSY
Dow drops 540 points, Nasdaq falls 2.6% as 10-year yield rises to 2-year high. The major averages fell sharply Tuesday as government bond yields hit Covid-era highs and after Goldman Sachs reported disappointing earnings. The writings are already all over the wall. Most investors surely have expected the fall. Triple whammy of record 40-year high inflation, Fed tapering and interest rate hikes will surely cause a lot of volatility.
WJ77
2022-01-19
WJ77
😭😭
Xtraordinary
2022-01-19
Xtraordinary
Oh no sad
Investigater
2022-01-18
Investigater
Omg
Agni
2022-01-18
Agni
Gr8
JCinvest
2022-01-18
JCinvest
Alright