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FINANCIALS: Goldman Sachs (GS A2/BBB+/A): 3Q24 Results

FINANCIALS
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  • Revenues were 8% ahead of consensus largely thanks to equities, with IB and AWM also outperforming. FICC was in-line.
  • Net interest income was 42% better than estimates (only 3 contributions).
  • CET1 is marginally down 20bp at 14.6%, no change expected.
  • Loan loss provisions were 4% lower than consensus at $397mn. Credit cards saw net charge-offs while recoveries of previous impairments benefitted the wholesale portfolio.
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  • Revenues were 8% ahead of consensus largely thanks to equities, with IB and AWM also outperforming. FICC was in-line.
  • Net interest income was 42% better than estimates (only 3 contributions).
  • CET1 is marginally down 20bp at 14.6%, no change expected.
  • Loan loss provisions were 4% lower than consensus at $397mn. Credit cards saw net charge-offs while recoveries of previous impairments benefitted the wholesale portfolio.