The investment bank reported total net revenues of $12.6bn for the fourth quarter (Q4) 2021, a 8% rise compared to $11.7bn for the corresponding quarter in 2020
Goldman Sachs Headquarters, New York City. (Credit: Quantumquark/Wikipedia)
Goldman Sachs has reported net earnings of $3.8bn or $10.8 per diluted share for the quarter ended 31 December 2021, a 13% decline compared to $4.3bn or $12 per diluted share for the same period prior-year.
The investment bank reported total net revenues of $12.6bn for the fourth quarter (Q4) 2021, a 8% rise compared to $11.7bn for the corresponding quarter in 2020.
The company reported total operating expenses of $7.2bn for the Q4 2021, a 23% increase compared to $5.9bn for the Q4 2020.
It has reported a net interest income of $1.8bn for the Q4 2021, a 27% rise compared to $1.4bn for the same quarter last year.
The company attributed increase in the fourth quarter revenues to a growth in revenues in the investment banking, and consumer and wealth management businesses, partially offset by lower revenues in asset management and global markets units.
Goldman Sachs chairman and chief executive officer David M Solomon said: “2021 was a record year for Goldman Sachs. The firm’s extraordinary performance is a testament to the strength of our client franchise and people.
“Moving forward, our leadership team remains committed to growing Goldman Sachs, diversifying our businesses and delivering strong returns for shareholders.”
The company reported net earnings of $21.15bn or $59.45 per diluted share, for the year ended 31 December 2021, a 137% rise compared to $9bn or $24.74 per diluted share, for the year ended 31 December 2020.
It has reported total net revenues of $59.3bn for the year ended 31 December 2021, a 33% increase compared to $44.5bn for the year ended 31 December 2020.
The company reported net interest income of $6.4bn for the year ended 31 December 2021, a 36% rise compared to $4.7bn for the year ended 31 December 2020.
Goldman Sachs reported total operating expenses of $32bn for the year ended 31 December 2021, a 10% rise compared to $29bn for the prior-year.