Sector: Financials|Industry: Capital Markets|Market Cap: $194.77B|Employees: 45.3K
The Goldman Sachs Group, Inc. is a leading global financial institution that delivers a broad range of financial services to a diverse client base. Its core business model revolves around investment banking, asset and wealth management, and platform solutions, with primary revenue streams from fees, intermediation, and financing activities. The company has a significant market position and competitive advantages in the financial services sector, operating in key markets across the Americas, Europe, Middle East and Africa, and Asia.
Total net revenues increased to $14.21 billion, up from $12.22 billion in the prior year, primarily due to an increase in non-interest revenues, which reached $12.61 billion, up from $10.44 billion in the prior year. Net interest income remained relatively flat at $1.61 billion, compared to $1.78 billion in the prior year.
Net earnings increased to $4.13 billion, up from $3.23 billion in the prior year. This increase is primarily due to higher net revenues and a reduction in the provision for credit losses.
Basic earnings per share increased to $11.67, up from $8.87 in the prior year, and diluted earnings per share increased to $11.58, up from $8.79 in the prior year, reflecting the increase in net earnings.