Goldman Sachs Delivers Year-to-Date Net Earnings of $9.94 Billion

The Goldman Sachs Group, Inc. today reported net revenues of $11.98 billion and net earnings of $3.07 billion for the third quarter ended September 30, 2022. Net revenues were $36.77 billion and net earnings were $9.94 billion for the first nine months of 2022.

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Diluted earnings per common share (EPS) was $8.25 for the third quarter of 2022 compared wit $14.93 for the third quarter of 2021 and $7.73 for the second quarter of 2022, and was $26.71 for the first nine months of 2022 compared with $48.59 for the first nine months of 2021.

Annualized return on average common shareholders' equity (ROE) was 11.0% for the third quarter of 2022 and 12.2% for the first nine months of 2022. Annualized return on average tangible common shareholders' equity (ROTE) was 12.0% for the third quarter of 2022 and 13.1% for the first nine months of 2022.

"Goldman Sachs' third quarter results reflect the strength, breadth and diversification of our global franchise. Against the backdrop of uncertainty and volatility in the markets, we continue to prudently manage our resources and remain focused on risk management as we serve our clients. Importantly, we are confident that our strategic evolution will drive higher, more durable returns and unlock long-term value for shareholders,"said David Solomon, Chairman and Chief Executive Officer of Goldman Sachs.

"In January 2020, we outlined our strategy in clear and direct terms, introducing a plan to grow and strengthen our core businesses, diversify our products and services, and operate more efficiently as we drive higher, more durable returns. Today, we enter the next phase of our growth, introducing a realignment of our businesses that will enable us to further capitalize on the predominant operating model of One Goldman Sachs as we better serve our clients."