Q4 2024 Goldman Sachs Group Inc Earnings Call Transcript
Key Points
- The Goldman Sachs Group Inc (GS) reported strong financial performance with fourth-quarter revenues of $13.9 billion and earnings per share of $11.95.
- The company achieved a return on equity (ROE) of 14.6% and a return on tangible equity (ROTE) of 15.5% for the fourth quarter.
- For the full year, The Goldman Sachs Group Inc (GS) increased its revenues by 16% to $53.5 billion and grew its EPS by 77% to $40.54.
- The asset and wealth management business reached a record $3.1 trillion in assets under supervision, with consistent growth in management and other fees.
- The company maintained its leadership position as the number 1 M&A adviser and has a strong equities business, reflecting its robust client trust and investment in capabilities.
- The Goldman Sachs Group Inc (GS) faces regulatory challenges, including a lawsuit against the Federal Reserve over stress testing transparency.
- Platform solutions, particularly the Apple card partnership, continue to be a drag on the firm's overall ROE, impacting short-term profitability.
- There is uncertainty in the regulatory environment, which could affect the operating backdrop for capital markets and investment banking businesses.
- The company is still working on improving the return profile of its asset and wealth management business to achieve mid-teens returns.
- Despite strong performance, there are concerns about potential geopolitical risks and economic uncertainties that could impact future growth.
Good morning. My name is Katie and I will be your conference facilitator today. I would like to welcome everyone to the Goldman Sachs fourth quarter 2024 earnings conference call.
On behalf of Goldman Sachs, I will begin the call with the following disclaimer. The earnings presentation can be found on the Investor Relations page of the Goldman Sachs website and contains information on forward-looking statements and non-GAAP measures. This audiocast is copyrighted material of the Goldman Sachs Group, Inc. and may not be duplicated, reproduced, or rebroadcast without consent. This call is being recorded today, January 15, 2025.
I will now turn the call over to the Chairman and Chief Executive Officer, David Solomon; and Chief Financial Officer, Denis Coleman. Thank you. Mr. Solomon, you may begin your conference.
Thank you, operator, and good morning, everyone. Thank you all for joining us. Before I start prepared remarks, I'd like to take a moment to touch
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
