Goldman Sachs Generates $12.93bn in Q1 Revenue, $1.87bn Lower than Rival Morgan Stanley

Investment banking giant Goldman Sachs has reported net revenues of $12.93 billion, representing a 27% drop YoY, for the first quarter ended March 31, 2022. This was $1.87bn lower than its old rival Morgan Stanley​, as Fazzaco reported earlier.    

During the 3-month period, Goldman's net earnings came in at $3.94 billion. 

Investment Banking generated quarterly net revenues of $2.41 billion, higher than the $1.3 billion of Morgan Stanley in net revenues for Investment Management. The firm ranked No.1 in worldwide announced and completed mergers and acquisitions and in worldwide equity and equity related offerings and common stock offerings for the year-to-date.

Global Markets generated quarterly net revenues of $7.87 billion, reflecting strong performances in Equities and Fixed Income, Currency and Commodities (FICC), including record net revenues in FICC financing.

Consumer & Wealth Management generated record quarterly net revenues of $2.10 billion, while Morgan Stanley reported net revenues of $5.9 billion for Wealth Management.

At the end of the first quarter of 2022, the firm closed on its acquisition of GreenSky, Inc. and announced its acquisition of NextCapital Group. In the beginning of the second quarter of 2022, the firm closed on its acquisition of NN Investment Partners.