Wednesday, October 29, 2025
  • Login
Euro Times
No Result
View All Result
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology
Euro Times
No Result
View All Result

Goldman Sachs unveils revamp as third-quarter profit falls By Reuters

by Reuters
October 18, 2022
in Stock Market
Reading Time: 2 mins read
A A
0
Home Stock Market
Share on FacebookShare on Twitter


© Reuters. FILE PHOTO: The logo for Goldman Sachs is seen on the trading floor at the New York Stock Exchange (NYSE) in New York City, New York, U.S., November 17, 2021. REUTERS/Andrew Kelly

(Reuters) -Goldman Sachs Group Inc said on Tuesday it was reorganizing its business into three units, as the Wall Street giant undertakes another overhaul in less than three years, while also reporting a drop in third-quarter profit.

The bank will now have three operating segments – asset and wealth management, global banking and markets and platform solutions. Goldman did not give details about the executives who will lead the units.

Shares rose 2.5% to $314.50 in premarket trading.

The reshuffle comes as the investment bank seeks to boost its income from fee-based businesses at a time when rising interest rates have dented valuations and deal-making and follows a round of global job cuts in September.

“It’s time to be cautious,” Chief Executive David Solomon said in an interview to CNBC while referring to the state of the economy.

The bank rounds out a mixed quarter for big U.S. banks, in which choppy capital markets and slowing economic growth weakened investment banking.

Dealmaking slowed in the quarter, casting a pall over some of Goldman’s most lucrative businesses. However, rising borrowing costs boosted net interest income to cushion the blow, with the net interest margin rising 31%.

Profit applicable to common shareholders fell to $2.96 billion, or $8.25 per share, in the quarter ended Sept. 30, from $5.28 billion, or $14.93 per share, a year ago.

Analysts had expected a profit of $7.69 per share, according to Refinitiv data. It was not immediately clear if the reported numbers were comparable to estimates.

Total revenue fell 12% to $11.98 billion in the quarter.

In the face of aggressive Federal Reserve rate increases and the war in Ukraine, investors, however, boosted trading activity, helping the bank’s fixed income, currency and commodities division.

Goldman on Tuesday did not disclose plans for Marcus, its consumer banking unit. Reuters reported on Monday citing sources that Marcus, the brainchild of CEO Solomon in his pursuit for steadier revenue streams, will be part of the merged asset and wealth management unit.



Source link

Tags: FallsGoldmanProfitReutersrevampSachsthirdquarterunveils
Previous Post

$740M in Bitcoin exits exchanges, the biggest outflow since June’s BTC price crash

Next Post

Nifty Charts: Tech View: Nifty charts show positive momentum in the near term. What investors should do on Wednesday

Related Posts

Lord Abbett Total Return Fund Q3 2025 Commentary (Mutual Fund:LTRAX)

Lord Abbett Total Return Fund Q3 2025 Commentary (Mutual Fund:LTRAX)

by Lord
October 29, 2025
0

This text was written byObserveLord Abbett is an impartial, privately held, world asset supervisor and one of many oldest cash...

Fixed Income Investment Outlook Q4 2025

Fixed Income Investment Outlook Q4 2025

by Neuberger Berman
October 28, 2025
0

This text was written byObserveNeuberger Berman was based in 1939 to do one factor: ship compelling funding outcomes for our...

Coherent: Well Positioned For Long-Term AI Infrastructure Growth (NYSE:COHR)

Coherent: Well Positioned For Long-Term AI Infrastructure Growth (NYSE:COHR)

by Matthew Doherty
October 28, 2025
0

This text was written byComply withI'm a Third-year scholar learning finance at College with a robust ardour for markets and...

Cadence Design Systems, Inc. (CDNS) Q3 2025 Earnings Call Transcript

Cadence Design Systems, Inc. (CDNS) Q3 2025 Earnings Call Transcript

by SA Transcripts
October 28, 2025
0

Convention Name Members Vivek Arya - BofA Securities, Analysis DivisionJason Celino - KeyBanc Capital Markets Inc., Analysis DivisionJoseph Vruwink -...

Galp Energia, SGPS, S.A. (GLPEY) Q3 2025 Earnings Call Transcript

Galp Energia, SGPS, S.A. (GLPEY) Q3 2025 Earnings Call Transcript

by SA Transcripts
October 27, 2025
0

Firm Individuals Joao Pereira - Head of Investor RelationsJoao Diogo da Silva - Co-CEO, Govt VP of Industrial & DirectorMaria...

Medtronic: A Revitalized Dividend Aristocrat To Buy Now (NYSE:MDT)

Medtronic: A Revitalized Dividend Aristocrat To Buy Now (NYSE:MDT)

by Kody's Dividends
October 26, 2025
0

This text was written byObserveHello, my title is Kody. Other than my articles right here on Searching for Alpha, I'm...

Next Post
Nifty Charts: Tech View: Nifty charts show positive momentum in the near term. What investors should do on Wednesday

Nifty Charts: Tech View: Nifty charts show positive momentum in the near term. What investors should do on Wednesday

Blockchain Shardeum Raises .2M to Tackle Slow Traffic, High Fees

Blockchain Shardeum Raises $18.2M to Tackle Slow Traffic, High Fees

Trump says he expects to lower fentanyl-related tariffs on Beijing, discuss ‘farmers’

Trump says he expects to lower fentanyl-related tariffs on Beijing, discuss ‘farmers’

October 29, 2025
Lord Abbett Total Return Fund Q3 2025 Commentary (Mutual Fund:LTRAX)

Lord Abbett Total Return Fund Q3 2025 Commentary (Mutual Fund:LTRAX)

October 29, 2025
‘Horrific violations’: Arab nations slam RSF killings in Sudan’s el-Fasher | Sudan war News

‘Horrific violations’: Arab nations slam RSF killings in Sudan’s el-Fasher | Sudan war News

October 29, 2025
Two Coal India Subsidiaries Set For Dalal Street Debut By December

Two Coal India Subsidiaries Set For Dalal Street Debut By December

October 29, 2025
Strange way of dealing with uncertainty

Strange way of dealing with uncertainty

October 29, 2025
Cotton Holds Gains on Tuesday

Cotton Holds Gains on Tuesday

October 29, 2025
Euro Times

Get the latest news and follow the coverage of Business & Financial News, Stock Market Updates, Analysis, and more from the trusted sources.

CATEGORIES

  • Business
  • Cryptocurrency
  • Finance
  • Health
  • Investing
  • Markets
  • Politics
  • Stock Market
  • Technology
  • Uncategorized
  • World

LATEST UPDATES

Trump says he expects to lower fentanyl-related tariffs on Beijing, discuss ‘farmers’

Lord Abbett Total Return Fund Q3 2025 Commentary (Mutual Fund:LTRAX)

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 - Euro Times.
Euro Times is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology

Copyright © 2022 - Euro Times.
Euro Times is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In