Friday, 29 March 2024

Goldman Sachs reports 2017 Q3 financial results

The Goldman Sachs Group, Inc. reported net revenues of $8.33 billion and net earnings of $2.13 billion for the third quarter ended September 30, 2017. Diluted earnings per common share were $5.02 compared with $4.88 for the third quarter of 2016 and $3.95 for the second quarter of 2017. Annualized return on average common shareholders’ equity (ROE) was 10.9% for the third quarter of 2017 and 10.3% for the first nine months of 2017.

 
Highlights
• Goldman Sachs reported first nine months net revenues of $24.24 billion, 8% higher than the first nine months of 2016, which contributed to a 230 basis point improvement in pre-tax margin to 33.1%.
• The firm ranked first in worldwide announced and completed mergers and acquisitions for the year-to-date. The firm also ranked first in worldwide common stock offerings for the year-to-date.
• Debt underwriting produced year-to-date net revenues of $2.03 billion, its highest for the first nine months of the year, reflecting a leading position for the firm’s leveraged finance franchise.
• Investing & Lending generated net revenues of $1.88 billion, its highest quarterly performance in over three years.
• Assets under supervision increased to a record $1.46 trillion, including net inflows of $13 billion in long-term assets under supervision.
• Book value per common share increased by 1.8% during the quarter and 4.5% during the year-to-date to $190.73. Basic shares decreased below 400 million for the first time, ending the quarter at 393.7 million.
• The firm maintained capital ratios well in excess of the minimum requirements, as the firm’s Common Equity Tier 1 Standardized and Basel III Advanced ratios were 13.3% and 12.0%, respectively.
• The firm maintained strong liquidity as global core liquid assets were $220 billion as of September 30, 2017.
“Our overall performance this year has been solid and provides a good foundation on which to execute and deliverour growth initiatives," said Lloyd C. Blankfein, Chairman and Chief Executive Officer.
 
 
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