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Goldman Sachs Group Inc. (NYSE:GS) reported third-quarter earnings on Tuesday.
The investment bank reported net revenue growth of 20% year over year (Y/Y) to $15.18 billion, topping the consensus estimate of $14.10 billion.
GAAP earnings came in at $12.25 per share, up from $8.40 a year ago and above the $10.86 consensus.
Net Interest Income surged 64% Y/Y to $3.85 billion in the quarter on a decline in funding costs and higher interest-earning assets.
Provision for credit losses declined to $339 million, compared with $397 million a year ago and $384 million last quarter, driven by net provisions related to the credit card portfolio.
JP Morgan analyst Kian Abouhossein expressed views on Goldman Sachs Group Inc. (NYSE:GS) third-quarter earnings reported on Tuesday.
The analyst maintained an Overweight rating, noting that Goldman Sachs posted a solid third-quarter performance.
The investment banking fee backlog remained largely flat quarter over quarter, adds the analyst.
The analyst states that the earnings call will likely focus on updates to the investment banking fee pipeline.
It is also expected to cover capital allocation plans and future growth initiatives following Goldman’s recent M&A and strategic partnership announcements, adds the analyst.
Abouhossein expects consensus EPS for 2025 to see modest, low single-digit percentage upgrades.
Investors can gain exposure to the Goldman Sachs stock via Shares U.S. Broker-Dealers & Securities Exchanges ETF (NYSE:IAI), and Global X Funds Global X Dow 30 Covered Call ETF (NYSE:DJIA).
Goldman Sachs Group’s market cap of $241.42 billion positions it as a leading player in the capital markets industry, while its P/E ratio of 17.33 indicates a valuation that is relatively moderate compared to historical averages for financial firms.
The stock’s 52-week range, spanning from $439.38 to $825.25, suggests significant volatility, with current levels near the upper end, reflecting heightened investor confidence amid evolving market conditions.
Goldman Sachs Group shares were down 1.62% at $774.02 at the time of publication on Tuesday. The stock is approaching its 52-week high of $825.25, according to Benzinga Pro data.
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