Goldman Sachs profits more than double in second quarter as dealmaking comes back on Wall Street
5 months, 1 week ago

Goldman Sachs profits more than double in second quarter as dealmaking comes back on Wall Street

Associated Press  

NEW YORK — Goldman Sachs is posting a 150% jump in second quarter profits Monday, helped by a resurgence of dealmaking and underwriting that has revived investment banking after the slowdown of the previous couple years. The New York investment bank posted net earnings of $3.04 billion, $8.62 per share, compared with $1.22 billion in the same period a year earlier. Part of the surge in profits came from Goldman Sachs booking some one-time items last year as it took charges for the wind-down of its consumer banking business. That said, nearly every aspect of Goldman’s businesses saw revenue jump in the quarter, reflecting what has been a broad revival in dealmaking and activity on Wall Street this year in a healthy economy.

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Big banks warn of uncertain year ahead after mixed financial performances in the first quarter
8 months, 1 week ago

Big banks warn of uncertain year ahead after mixed financial performances in the first quarter

Associated Press  

NEW YORK — Big banks warned of an “uncertain” year ahead after mixed financial results during the first quarter in an environment of stubbornly high inflation and geopolitical clashes in Europe, the Middle East and elsewhere. However, looking ahead, we remain alert to a number of significant uncertain forces,” JPMorgan CEO Jamie Dimon said, citing the wars in Gaza and …

Goldman Sachs 4Q profits jump 51%, but full year reflects difficult period for the bank
11 months, 1 week ago

Goldman Sachs 4Q profits jump 51%, but full year reflects difficult period for the bank

Associated Press  

NEW YORK — Goldman Sachs’ profits jumped 51% from a year earlier, the investment bank said Tuesday, helped by the strong returns in the overall market and its wealth management division in the last three months of the year. Goldman posted a profit of $2 billion in the last three months of the year, up from $1.33 billion in the …

Goldman Sachs' Q2 profits plummet by 62% amidst sluggish merger activity
1 year, 5 months ago

Goldman Sachs' Q2 profits plummet by 62% amidst sluggish merger activity

Hindustan Times  

Goldman Sachs reported a steep drop in second-quarter profits Wednesday as it continued to struggle with an anaemic merger and acquisition market and weakness in trading. The big investment bank, which has essentially abandoned a once-touted push to compete with retail banks for Main Street consumers, pointed to a "significant decline in industry-wide completed mergers and acquisitions transactions" as a …

Goldman Sachs profits plunge 58% as dealmaking dries up
1 year, 5 months ago

Goldman Sachs profits plunge 58% as dealmaking dries up

CNN  

New York CNN — Goldman Sachs reported a sharp drop in profit on Wednesday as dealmaking and trading, a core part of the mega bank’s business, dry up. “Our results were impacted by the challenging macro environment and in particular headwinds facing our specific mix of businesses,” said Solomon on Goldman’s earnings call Wednesday morning. “Activity levels in many areas …

Goldman, M. Stanley profits plunge as dealmaking dries up
1 year, 11 months ago

Goldman, M. Stanley profits plunge as dealmaking dries up

Associated Press  

NEW YORK — The profits for two iconic Wall Street firms — Goldman Sachs and Morgan Stanley — plunged sharply last quarter as volatile markets cut deeply into investment banking. The bank set aside $972 million to cover potential credit losses in the quarter, which the bank said came from higher charge offs in its rather new credit card business. …

JPMorgan profits fall; bank stores cash for coming downturn
2 years, 2 months ago

JPMorgan profits fall; bank stores cash for coming downturn

Associated Press  

NEW YORK — JPMorgan Chase & Co.'s third quarter profit fell by 17% from a year earlier, as the bank set aside roughly a billion dollars to cover potential losses in an economic recession that CEO Jamie Dimon has said could come in six to nine months. The nation’s largest bank by assets posted a profit of $9.74 billion, or …

JPMorgan 2Q profit drops; CEO warns of economic challenges
2 years, 5 months ago

JPMorgan 2Q profit drops; CEO warns of economic challenges

Associated Press  

NEW YORK — Profits at JPMorgan Chase fell by 28% in the second quarter as the bank tries to navigate an economy that’s showing strength in many areas but losing steam as interest rates continue to rise, hitting consumers and corporations alike. The nation’s largest bank by assets said Thursday that it earned a profit of $8.65 billion, or $2.76 …

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