$123 Billion Goldman Sachs Announces $30 Billion Stock Buyback Plan Buying $2.25 Billion in Q1 2023 & $3.5 Billion in 2022, Reported $11.2 Billion Net Profit in 2022

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$123 Billion Goldman Sachs Announces $30 Billion Stock Buyback Plan Buying $2.25 Billion in Q1 2023 & $3.5 Billion in 2022, Reported $11.2 Billion Net Profit in 2022

25th February 2023 | Hong Kong

Goldman Sachs with $123 billion market capitalization (24/2/23), has announced a $30 billion stock buyback plan (24.3% of $123 billion market value), having already buyback $2.25 billion in Q1 2023 and $3.5 billion in 2022.  In January 2023, Goldman Sachs in the earnings announcement reported $11.26 billion net profit in 2022.  Goldman Sachs (17/1/23) : The Goldman Sachs Group, Inc. (NYSE: GS) today reported net revenues of $47.37 billion and net earnings of $11.26 billion for the year ended December 31, 2022. Net revenues were $10.59 billion and net earnings were $1.33 billion for the fourth quarter of 2022.  Investment Banking: Net revenues in Global Banking & Markets were $32.49 billion, 12% lower than a strong 2021. Investment banking fees were $7.36 billion, 48% lower than a strong 2021, due to significantly lower net revenues in both Equity and Debt underwriting, reflecting a significant decline in industry-wide volumes, and lower net revenues in Advisory, reflecting a decline in industry-wide completed mergers and acquisitions transactions from elevated activity levels in the prior year. The firm’s Investment banking fees backlog4 decreased significantly compared with the end of 2021.  Asset & Wealth Management: “Net revenues in Asset & Wealth Management were $13.38 billion for 2022, 39% lower than 2021, primarily reflecting significantly lower net revenues in Equity investments and Debt investments.”  View: 2022 Goldman Sachs Earnings Results

“ $123 Billion Goldman Sachs Announces $30 Billion Stock Buyback Plan Buying $2.25 Billion in Q1 2023 & $3.5 Billion in 2022, Reported $11.2 Billion Net Profit in 2022 “

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Goldman Sachs Reported $11.2 Billion Net Profit in 2022

Goldman Sachs (17/1/23) : The Goldman Sachs Group, Inc. (NYSE: GS) today reported net revenues of $47.37 billion and net earnings of $11.26 billion for the year ended December 31, 2022. Net revenues were $10.59 billion and net earnings were $1.33 billion for the fourth quarter of 2022.  Investment Banking: Net revenues in Global Banking & Markets were $32.49 billion, 12% lower than a strong 2021. Investment banking fees were $7.36 billion, 48% lower than a strong 2021, due to significantly lower net revenues in both Equity and Debt underwriting, reflecting a significant decline in industry-wide volumes, and lower net revenues in Advisory, reflecting a decline in industry-wide completed mergers and acquisitions transactions from elevated activity levels in the prior year. The firm’s Investment banking fees backlog4 decreased significantly compared with the end of 2021.  Asset & Wealth Management: “Net revenues in Asset & Wealth Management were $13.38 billion for 2022, 39% lower than 2021, primarily reflecting significantly lower net revenues in Equity investments and Debt investments.” 

Goldman Sachs Chairman & CEO, David Solomon

David Solomon is Chairman and Chief Executive Officer and a member of the Board of Directors of  The Goldman Sachs Group, Inc.  Previously, he was President and Chief Operating Officer and prior to that, he served as Co-Head of the Investment Banking Division from 2006 to 2016. Before that, Mr. Solomon was Global Head of the Financing Group, which includes all capital markets and derivative products for the firm’s corporate clients. He joined Goldman Sachs as a Partner in 1999.  Mr. Solomon is Chairman of the Board of Trustees of Hamilton College and serves on the board of  The Robin Hood Foundation. He also serves on the Board of Trustees of New York-Presbyterian Hospital.

Goldman Sachs

Goldman Sachs is a leading global financial institution that delivers a broad range of financial services to a large and diversified client base that includes corporations, financial institutions, governments and individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.

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