Goldman Sachs Q4 Profit Surges

(RTTNews) - Goldman Sachs Group Inc. (GS) reported Tuesday that net earnings applicable to common shareholders for the fourth quarter surged to $1.87 billion or $5.48 per share from $1.19 billion or $3.32 per share in the prior-year quarter.

On average, 17 analysts polled by Thomson Reuters expected the company to report earnings of $3.20 per share for the quarter. Analysts' estimates typically exclude special items.

Provision for credit losses for the quarter was $577 million, compared to $972 million last year.

Total net revenues for the quarter grew 7 percent to $11.32 billion from $10.59 billion in the same quarter last year. Analysts expected revenue of $9.85 billion for the quarter.

On Friday, the Board of Directors of The Goldman Sachs Group, Inc. declared a dividend of $2.75 per common share to be paid on March 28, 2024 to common shareholders of record on February 29, 2024.

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