Goldman Sachs Q4 Earnings and Revenue Beat Expectations

By
Mrinalini Krishna
Mrinalini Krishna
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Mrinalini Krishna is the Senior Editor of investing news at Investopedia. She's been a journalist for more than 10 years covering business, personal finance, and investing news.

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Published January 16, 2024
The Goldman Sachs logo is seen on at the New York Stock Exchange

Michael M. Santiago / Staff / Getty Images

Key Takeaways

  • Goldman Sachs reported better-than-expected revenue and earnings in the fourth quarter.
  • Revenue of $11.32 billion was 6.8% higher compared to the year-ago quarter while diluted earnings per share rose 65% to $5.48.
  • Strategic objectives and special assessment from the FDIC impacted earnings to $283 million and EPS by $0.83 for the quarter.

Goldman Sachs (GS) fourth-quarter results trounced analyst expectations on both earnings and revenue. The bank's strong performance was driven by a 23% year-over-year growth in its asset and wealth management revenue.

Net income was $2.01 billion for the quarter and Goldman Sachs reported a diluted earnings per share (EPS) at $5.48 per share. That figure was 65% higher compared to the same period in the prior year and was meaningfully greater than the $4.64 than analysts consensus compiled by Visible Alpha. Meanwhile, revenue of $11.32 billion for the period was roughly 7% higher than the year-ago quarter.

  Q4 2023 Analyst Estimates  Q4 2022  Year-over-year change
Revenue $11.32B $11.03B $10.59B  6.8%
Diluted Earnings per share (EPS) $5.48 $4.64 $3.32  65%
Net Income $2.01B  $1.84B $1.33B  51%

In 2023, Goldman Sachs struggled in the aftermath of a few missteps it took in its consumer banking foray. However, the bank moved away from those endeavors to focus on its core business.

That strategy, combined with a special assessment from the Federal Deposit Insurance Corporation (FDIC) lowered its earnings by $283 million and EPS by $0.83 for the quarter.

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  1. Goldman Sachs. "Full Year and Fourth Quarter 2023 Earnings Results."

  2. Goldman Sachs. "Goldman Sachs Reports 2023 Full Year and Fourth Quarter Earnings Results."

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