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Goldman Sachs profits fell by 13% annually in the last three months of 2021, due to a successful performance on Wall Street that failed to repay the reduced amount in the bank.
In its fourth quarter acquisition Friday, Goldman also claimed $ 3.8bn, or $ 10.81 per share, compared to $ 4.36bn, or $ 12.08 per share, the same period last year.
This was significantly lower than experts had predicted, and the estimated total cost could be around $ 4.1bn, according to a Bloomberg agreement.
Goldman shares were less than 3 percent in pre-market sales in New York.
The results confirmed that Goldman’s profit-making engine remained commercially available and in a commercial bank for two years from the time David Solomon, Goldman’s chief executive, explained. plans focusing more on new businesses such as buyers and commercial banks.
Revenues from savings banks as a result of merger and acquisition advice, public startups and loans increased by 45 percent to $ 3.8bn, amid global economic growth. dealmaking work. Experts predict that a profit of $ 3.2bn per share.
Rival JPMorgan Chase last week reports retail banking rates rose 28 percent annually to $ 3.2bn.
It was the eighth consecutive year of Goldman bank’s economic growth. Researchers expect this to be the case by early 2022 following the major barriers set by the bank in 2021.
But investment in Goldman’s stock and bond trading unit, which had a year-over year in 2020 due to the increase in sales during the market transition, was 7 percent lower at $ 3.98bn a year, missing expert forecasts of $ 4.3bn.
Concerns over the operating costs of JPMorgan acquired on Friday were heavy on the banks. Goldman also said a $ 7.3bn operating revenue in the fourth quarter, a 23 percent increase from a year earlier and more than $ 6.4bn experts expected. Goldman said the increase was due to compensation and technical fees.
Investment in the consumer and financial management sector, which includes its online banking Marcus and Apple credit card, rose 19 percent to $ 1.97bn, according to experts.
The annual economic recovery for the quarter was 15.6% and 23% for 2021, ahead of the 14 percent mid-term target set by Goldman in 2020.
Overall in 2021, total profits came in at $ 21.2bn, more than double what it was in 2020 and the easiest year for the bank.
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