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Top related persons:
David Solomon - 2 Goldman - 2 Goldman's Marcus - 2 Marcus - 2 Morgan Stanley - 2 MS.N - 2 Niket Nishant - 2 Noor Zainab Hussain - 2
Top related locs:
Bengaluru New York Malaysian writedowns
Top related orgs:
Analysts - 2 Thomson - 2 YORK - 1 Citigroup - 1 Goldman - 1 Revenue - 1 JPMorgan Chase - 1 Goldman Sachs - 1

Search resuls for: "Goldman's Marcus"


2 mentions found


☆ Goldman profit falls to 3-year low on consumer losses; shares rise on outlook
  + stars: | 2023-07-19 | by ( Saeed Azhar Niket Nishant | Saeed Azhar | Niket Nishant | ) www.reuters.com   time to read: +5 min
NEW YORK, July 19 (Reuters) - Goldman Sachs' (GS.N) profit dropped 60% in the second quarter, missing estimates, as the bank's retreat from consumer businesses and declining real estate investments weighed on earnings. The results were the worst for the Wall Street giant since the second quarter of 2020, when it took writedowns over corruption scandal linked to Malaysian state fund 1MDB. "It definitely feels better over the course of the last six, eight weeks," Solomon told analysts on a conference call. "This moment in the economic cycle creates meaningful headwinds for Goldman Sachs," Solomon said told analysts on a conference call. Net earnings dropped 62% to $1.07 billion in the second quarter versus $2.79 billion a year earlier.
Persons: Goldman Sachs, David Solomon, Solomon, Goldman, Keith Horowitz, Goldman's Marcus, Marcus, Morgan Stanley, MS.N, headcount, Niket Nishant, Noor Zainab Hussain, Saeed Azhar, Johann M Cherian, Arun Koyyur, Nick Zieminski, Anna Driver Organizations: YORK, Analysts, Citigroup, Goldman, Revenue, JPMorgan Chase, Reuters, Thomson Locations: Malaysian, writedowns, Bengaluru, New York
☆ Goldman profit slides to three-year low on consumer losses
  + stars: | 2023-07-19 | by ( ) www.reuters.com   time to read: +3 min
The bank took a writedown of $504 million tied to its GreenSky business and $485 million related to its consolidated real estate investments. It was Goldman's lowest quarterly profit since the second quarter of 2020. Trading revenue for fixed income, currency and commodities fell 26%, while equities trading revenue was broadly unchanged. On Tuesday, Goldman's peer Morgan Stanley (MS.N) said its investment banking revenue was in line with last year, but the trading business had weakened. However, uncertainty about the trajectory of the economy continues to be a hurdle with global mergers and acquisitions activity falling 36% from last year in the second quarter.
Persons: Goldman, David Solomon, GreenSky, Goldman's Marcus, Marcus, Morgan Stanley, MS.N, Niket Nishant, Noor Zainab Hussain, Saeed Azhar, Arun Koyyur Organizations: Goldman Sachs, Analysts, Investment, Federal Reserve, Reuters, Thomson Locations: Bengaluru, New York
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