The earnings call highlighted strong financial performance in both quarterly and annual results, driven by significant revenue growth, especially in Asset & Wealth Management and financing activities. There was a focus on strategic efficiency and capital returns. However, challenges remain with the Platform Solutions' impact on ROE and ongoing regulatory uncertainty. Overall, the highlights significantly outweigh the lowlights.

Company Guidance

During the Goldman Sachs Fourth Quarter 2024 Earnings Conference Call, David Solomon outlined the firm's robust financial performance and strategic direction, highlighting key metrics. The firm reported Q4 revenues of $13.9 billion and earnings per share (EPS) of $11.95, with a return on equity (ROE) of 14.6% and return on tangible equity (ROTE) of 15.5%. For the full year, revenues increased by 16% to $53.5 billion, EPS soared by 77% to $40.54, and ROE improved by over 500 basis points to 12.7%. Solomon emphasized Goldman Sachs' leadership in investment banking, with a #1 position in M&A advising and a top-ranked equities business, underpinned by $3.1 trillion in assets under supervision in their Asset & Wealth Management division. The firm has also met or exceeded targets from its 2020 strategic plan, with significant growth in revenues from $37 billion to $54 billion and durable revenue streams contributing to 70% of total revenues in 2024. Additionally, the call touched on the firm's initiatives in efficiency, technology, and regulatory challenges, as well as their strategic focus on capital solutions and private credit markets. Looking forward, Goldman Sachs is optimistic about the potential for increased M&A and IPO activity in 2025.

Strong Quarterly and Annual Financial Performance

Generated Q4 revenues of $13.9 billion, EPS of $11.95, and ROE of 14.6%. For the full year, increased revenues by 16% to $53.5 billion and EPS by 77% to $40.54, with an ROE improvement of over 500 basis points to 12.7%.

Asset & Wealth Management Growth

Assets under supervision reached a record $3.1 trillion, marking the 28th consecutive quarter of long-term fee-based net inflows. Management and other fees surpassed $10 billion, exceeding the 2024 target.

Record Financing Revenues

FICC financing revenues rose 34% year-over-year, with equities financing revenues up 36%, contributing to a combined record $9.1 billion in financing revenues.

Efficient Capital Management

Returned approximately $3 billion to common shareholders in Q4, including $2 billion in stock repurchases and $965 million in dividends.

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Goldman Sachs Group (GB:0R3G) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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GB:0R3G Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Jul 17, 2018	2018 (Q2)	- / 5.98	3.95	51.39% (+2.03)	―	―
Oct 16, 2018	2018 (Q3)	- / 6.28	5.02	25.10% (+1.26)	―	―
Jan 16, 2019	2018 (Q4)	- / 6.04	5.68	6.34% (+0.36)	―	―
Apr 15, 2019	2019 (Q1)	- / 5.71	6.95	-17.84% (-1.24)	―	―
Jul 16, 2019	2019 (Q2)	- / 5.81	5.98	-2.84% (-0.17)	―	―
Oct 15, 2019	2019 (Q3)	- / 4.79	6.28	-23.73% (-1.49)	―	―
Jan 15, 2020	2019 (Q4)	- / 4.69	6.04	-22.35% (-1.35)	―	―
Apr 15, 2020	2020 (Q1)	- / 3.11	5.71	-45.53% (-2.60)	―	―
Jul 15, 2020	2020 (Q2)	- / 6.26	5.81	7.75% (+0.45)	―	―
Oct 14, 2020	2020 (Q3)	- / 9.68	4.79	102.09% (+4.89)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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GB:0R3G Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jan 15, 2025	$570.00	$570.00	0.00%
Oct 15, 2024	$517.64	$520.13	+0.48%
Jul 15, 2024	$476.95	$482.39	+1.14%
Apr 15, 2024	$382.26	$396.02	+3.60%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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