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October 18, 2017

Goldman Sachs’ net revenues rise 2% in Q3 2017

Goldman Sachs has posted $8.32bn net revenues for the third quarter (Q3) ended 30 September 2017, a 2% rise compared to $8.17bn in the same quarter last year.

Net earnings applicable to common shareholders year-on-year decreased by 3% to $2.03bn during the reporting period.

The company’s net provisions for litigation and regulatory proceedings were $18m, versus $46m in the previous year.

Net revenues in the group’s Investment Management unit were $1.53bn, a rise of 3% from a year ago.

The group attributed the rise in the unit’s revenues to higher management and other fees, reflecting higher average assets under supervision and higher transaction revenues.

Assets under supervision at the Investment Management arm totalled $1.46 trillion at the end of the Q3 of 2017.

Net revenues in Institutional Client Services arm were $3.12bn, a 17% slump from the last year.

Net revenues in Fixed Income, Currency and Commodities Client Execution plummeted 26% year-on-year to $1.45bn.

Goldman Sachs chairman and CEO Lloyd Blankfein said: “Our  overall  performance  this  year  has  been  solid  and  provides  a  good  foundation  on  which  to   execute  and  deliver  our  growth  initiatives.”

 

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