Goldman Sachs Q4 23 – 16/01 – up until the last quarter of 2023 it hadn't been a great year for the Goldman Sachs share price, however a strong rally off the October lows managed to see the shares finish the year on a high, closing at a one year high. A disappointing Q2 trading update saw the bank take a $584m impairment tied to its GreenSky operation while there was also a $485m in respect of real estate write-downs. In seeking to further cast off its foray into retail banking, management finally agreed to sell the business to a private equity group. The banks Q3 numbers reflected this with profits falling to $5.47 a share, a sharp fall from last year's $8.25c a share. Q3 revenues also declined slipping to $11.82bn, however this was still ahead of expectations. On the plus side there was an improvement in its equities division, which grew revenues by 8% from last year, as did investment banking. FICC revenues slowed modestly by 6% to $3.38bn. The bank set aside $7m in respect of credit losses, with the focus this week expected to be very much on the outlook for 2024. For Q4 expectations are for revenues of $11bn with a modest decline in FICC revenue to $2.6bn, however equities are expected to have seen an improvement in Q4 to $2.26bn. Profits are expected to come in at $4.64 a share taking total profits for 2023 to $23.72 a share.
Goldman Sachs Q4 2023: Year-End Rally After Challenges, Focus on Outlook
