Goldman Sachs reports Q4 (Dec) results, beats on revs
- Reports Q4 (Dec) earnings of $4.69 per share, may not be comparable (due to litigation proceedings) to the S&P Capital IQ Consensus of $5.56; revenues rose 23.2% year/year to $9.96 bln vs the $8.56 bln S&P Capital IQ Consensus.
- Net provisions for litigation and regulatory proceedings for the fourth quarter of 2019 were $1.09 billion compared with $516 million for the fourth quarter of 2018.
- Provision for credit losses was $336 million for the fourth quarter of 2019, 51% higher than the fourth quarter of 2018 and 15% higher than the third quarter of 2019.
- The increase compared with the fourth quarter of 2018 primarily reflected higher impairments. Net revenues were $9.96 billion for the fourth quarter of 2019, 23% higher than the fourth quarter of 2018 and 20% higher than the third quarter of 2019. The increase compared with the fourth quarter of 2018 primarily reflected significantly higher net revenues in Asset Management and Global Markets