Goldman Sachs Group Third Quarter 2024 Earnings: Beats Expectations

Simply Wall St · 10/16 10:34

Goldman Sachs Group (NYSE:GS) Third Quarter 2024 Results

Key Financial Results

  • Revenue: US$12.3b (up 4.2% from 3Q 2023).
  • Net income: US$2.78b (up 49% from 3Q 2023).
  • Profit margin: 23% (up from 16% in 3Q 2023). The increase in margin was primarily driven by lower expenses.
  • EPS: US$8.56 (up from US$5.52 in 3Q 2023).
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NYSE:GS Earnings and Revenue Growth October 16th 2024

All figures shown in the chart above are for the trailing 12 month (TTM) period

Goldman Sachs Group Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 8.0%. Earnings per share (EPS) also surpassed analyst estimates by 21%.

Looking ahead, revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Capital Markets industry in the US.

Performance of the American Capital Markets industry.

The company's shares are up 5.2% from a week ago.

Risk Analysis

It is worth noting though that we have found 2 warning signs for Goldman Sachs Group that you need to take into consideration.