Goldman Sachs Profit Falls 58% on Consumer-Lending Pullback

Posted on AllSides July 19th, 2023
From The Center

Goldman Sachs GS 3.08%increase; green up pointing triangle reported significantly lower profit for the second quarter, hurt by write-downs in its consumer and asset-management businesses. The bank on Wednesday said quarterly profit was $1.22 billion, down 58% from a year ago. That amounted to $3.08 per share, which missed the $3.16 per share expected by analysts polled by FactSet. Revenue was $10.9 billion, down 8% from a year ago. That still beat the $10.61 billion expected by analysts. Goldman is the only one among its big-bank peers to miss per-share...

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