Selected items reduced earnings per common share by $2.41 and annual return on common equity by 3.1 percentage points
NEW YORK, OCTOBER 17, 2023 – Goldman Sachs Group, Inc. (NYSE: GS) today reported net sales of $11.82 billion and net income of $2.06 billion for the third quarter ended on September 30, 2023) was $5.47 in the third quarter of 2023 and the annual return on average common equity (ROE) was 7.1% in the third quarter of 2023.
Please see the printable versions Third quarter 2023 earnings results [PDF] and that Presentation of third quarter 2023 results [PDF].
Selected items related to the execution of the strategic objectives outlined at Investor Day impacted the Company’s results this quarter, resulting in an overall decrease of $828 million in net income and a decrease in earnings per share of $2.41 million. dollar and ROE by 3.1 percentage points. These items include: 
- Results related to historical main investments in Asset & Wealth Management (old investments from which the company plans to withdraw in the medium term, with a time horizon of 3 to 5 years from the end of 2022),
- Results related to GreenSky, including the impact of our announced sale and ongoing operating results.
- Modest ongoing losses associated with the Company’s remaining Marcus loan portfolio and operational Personal Financial Management.
David Solomon, Chairman and CEO of Goldman Sachs, said: “We continue to make significant progress in delivering on our strategic priorities and are confident that the work we are doing now provides us with a much stronger foundation for 2024. I also expect further recovery in both capital markets and strategic activity if conditions remain conducive. As a market leader in M&A advisory and equity underwriting, a revival of activity will undoubtedly be a tailwind for Goldman Sachs.”
A conference call to discuss the Company’s financial results, outlook and related matters will be held at 9:30 a.m. (ET) on the date noted above. The call for tenders is public.
Members of the public wishing to listen to the call should dial +1-888-205-6786 (in the U.S.) and +1-323-794-2558 (outside the U.S.) and passcode number 7042022. The number should be dialed at least 10 minutes before the start of the conference call. The conference call will also be available as an audio webcast via the Investor Relations section of our website www.goldmansachs.com/investor-relations. There is no charge to access the call. For those unable to watch the live broadcast, a replay will be available on our website approximately three hours after the event.
If you have any questions regarding access to the conference call, please email Goldman Sachs Investor Relations at [email protected].
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