Goldman misses profit estimates as dealmaking slumps, consumer business hit

  • 📰 Reuters
  • ⏱ Reading Time:
  • 32 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 97%

Deutschland Nachrichten Nachrichten

Deutschland Neuesten Nachrichten,Deutschland Schlagzeilen

Goldman Sachs reported a bigger-than-expected 69% drop in fourth-quarter profit as it struggled with a slump in dealmaking and weakness in its wealth management business

on Tuesday reported a bigger-than-expected 69% drop in fourth-quarter profit as it struggled with a slump in dealmaking, a drop in asset and wealth management revenue and booked losses at its consumer business.

Goldman is also curbing its consumer banking ambitions as Chief Executive Officer David Solomon refocuses the bank's resources on strengthening its core businesses such as investment banking and trading. "We tried to do too much too quickly," he said about the consumer business such as its direct-to-consumer unit Marcus. "We didn't execute perfectly on some so we've taken a hard look at those, and you make adjustments."

Full-year net loss for the platform solutions business was $1.67 billion, the bank said, even though net revenue of $1.50 billion for 2022 was 135% above 2021.

 

Vielen Dank für Ihren Kommentar.Ihr Kommentar wird nach Prüfung veröffentlicht.

Goldman Sachs made a major mistake with its new retail unit, Marcus, and took a position against the Biden Administration for its own portfolio. They are firing junior staff when senior staff is to blame.

Poor possums.

Gee, only 1.19 billion profit? Looks like they’ll have to shut the lights off at night to save on overhead.

😳

Yeah we don’t care, fuck em, moving on….

Biden did that

OK working people, get ready to pay some bail out money. 'Financiers, wealth makers, professionals of money making' lost few trillions. Come on! Pay their debts now!

Hate to see it.

Wir haben diese Nachrichten zusammengefasst, damit Sie sie schnell lesen können. Wenn Sie sich für die Nachrichten interessieren, können Sie den vollständigen Text hier lesen. Weiterlesen:

 /  🏆 2. in DE

Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen

Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.

Stocks bonds options to buy in 2023: Goldman Sachs strategy outlookGoldman Sachs lays out its strategy for profiting with stocks, bonds, and options in 2023 despite a rocky year — and why investors shouldn't make any big strategy changes bei durchschnittlich über 100Std. Wochenarbeitszeit geht sich schon das eine und andere Strategiepapier aus 🤦‍♂️
Herkunft: BusinessInsider - 🏆 729. / 51 Weiterlesen »

Goldman Sachs is set to report fourth-quarter earnings — here's what the Street expectsHow long will the investment banking drought last? That's one of the top questions analysts will have for Goldman CEO David Solomon. Their starting salary Kicks the House Down. Thats what I think.
Herkunft: CNBC - 🏆 12. / 72 Weiterlesen »