Tr?id=566623520170033&ev=PageView&noscript=1

Goldman Sachs Profit Drops by 33%

Posted on December 13th, 2023 at 1:24 PM
Goldman Sachs Profit Drops by 33%

From the desk of Jim Eccleston at Eccleston Law 

Goldman Sachs Group Inc. experienced its second consecutive quarter of real estate writedowns and a continued dealmaking slump, reducing its profitability to approximately half of its targeted level.

As reported by AdvisorHub, property investments resulted in a loss of $212 million in the equity book last quarter, and an additional $358 million in impairments contributed to a 33 percent drop in profit. While trading revenue exceeded analysts' estimates and helped mitigate the impact, the company's shares declined by approximately 2.1 percent.

Goldman has suffered its eighth consecutive quarterly profit decline, and the firm's return-on-equity stands at 7.1 percent, significantly below the mid-teens target it has set for itself. Chief Executive Officer David Solomon is working to rejuvenate the bank's stock after scaling back its consumer banking expansion and refocusing efforts on its core business lines. Solomon expressed his optimism, anticipating "a continued recovery in both capital markets and strategic activity if conditions remain conducive." He also claimed that a resurgence in activity would benefit Goldman Sachs as the leader in M&A advisory and equity underwriting.

 

Eccleston Law LLC represents investors and financial advisors nationwide in securities, employment, transition, regulatory, and disciplinary matters. 

Tags: eccleston, eccleston law

Return to Archive

TESTIMONIALS

Previous
Next
Quotes Bigger

If the regulators are after you, and are trying to make a case against you, and you are going to contest their allegations against you, make sure you have the best securities industry defense lawyers, Eccleston Law Firm. My case was spun into a combination of penalties including fines, cash settlements, CE courses and suspension. They were the best I have seen in action. When all was said and done, they had done their magic, my situation was negotiated and settled with a simple "letter of caution" and a case closed without action. It is the most important legal business decision you will ever make, make it Eccleston Law.

Rick R.

LATEST NEWS AND ARTICLES

1789752835 Law
September 18, 2026
SEC Sanctions Investment Adviser and Executive for Disproportionate Trade Allocations

The Securities and Exchange Commission (SEC) has determined that the conduct of registered investment advisory firm Barrington Asset Management, and its executive vice-president and chief compliance officer, Gregory Paris, disadvantaged clients and breached their fiduciary duties owed to clients.

1789665543 Law
September 17, 2026
SEC Charges 38 Entities Over Allegedly Fraudulent Adviser Filings

The Securities and Exchange Commission (SEC) charged 38 entities with allegedly making material misrepresentations in Forms ADV filed with the SEC between 2025 and 2026.

1789589290 Law
September 16, 2026
Edelman Financial Engines Secures TRO Against Advisor Who Joined RFG Advisory

Edelman Financial Engines recently secured a temporary restraining order (TRO) against Chad A.