The Goldman Sachs Group, today reported a net revenue of $53.51 billion, reflecting a 16% increase from 2023. The company’s earnings for the fourth quarter of 2024 were $13.87 billion, marking a 23% increase from 2023.
David Solomon, Chairman and CEO of Goldman Sachs, told investors today, “We are very pleased with our strong results for the quarter and the year. I’m encouraged that we have met or exceeded almost all of the targets we set in our strategy to grow the firm five years ago, and as a result, have both grown our revenues by nearly 50% and enhanced the durability of our franchise.”
Solomon acknowledged the company’s bounce back from rocky times one year ago: “With an improving operating backdrop and growing CEO confidence, we are harnessing the power of One Goldman Sachs to continue to serve our clients with excellence and create further value for our shareholders.”
The firm’s annual highlights included:
· Global Banking & Markets generated net revenues of $34.94 billion, driven by record net revenues in Equities and strong performances in Investment banking fees and Fixed Income, Currency and Commodities (FICC). These results included record net revenues in each of Equities financing and FICC financing.
· The firm ranked #1 in worldwide announced and completed mergers and acquisitions for the year.
· Asset & Wealth Management generated net revenues of $16.14 billion, including record Management and other fees and record Private banking and lending net revenues.
· Assets under supervision3 increased 12% during the year to a record $3.14 trillion. Book value per common share increased by 7.4% during the year to $336.77.
The company also announced its key objectives for 2025 and beyond, which included; Running world-class, differentiated, durable businesses; and investing to operate at scale.
By CEO NA Editorial Staff
