Goldman Sachs Smashes Revenue Forecast, Will GS Stock Follow Same?
The post Goldman Sachs Smashes Revenue Forecast, Will GS Stock Follow Same? appeared on BitcoinEthereumNews.com. Goldman Sachs Group Inc, (NYSE: GS) announced its Q3, 2023 for the period ended on September 30 reports on October 17, 2023. GS exceeded its revenue expectations by more than $60 Million and fell short of EPS expectation by 1.26%. During the press release, David Soloman, CEO declared quarterly dividend of $2.75 per common share of Goldman Sachs. The record date for the same is November 30 and it will be issued on December 28. The dividend yield of GS is close to 3% and there is no change in the absolute amount of dividend from the last quarter. Historically, dividend yield has been growing for last 10 quarters while the amount in absolute terms remained stable through four quarters before moving up, slightly. On that basis, GS stockholders are expected to earn the same dividend for the next two quarters. Net Profits and Net Revenue are Following a Cyclical Trend There is a huge spike in net profits (attributable to shareholders) in comparison with last quarter by 75% from $1,071 Million to $1,882 Million. Despite the huge increase in profits on a quarterly basis, net revenue declined by 57% (annually basis). Essentially, there is volatility in the net profits trend. Looking at the above graph and the trend formed in the graph the company is showing seasonality in its revenue which is skeptical for a leading financial company like Goldman Sachs. If the current trend continues Net Profit can take a U-turn from the current level as Quarter four of 2022 had lower Net Profits. Fall in net profits in this quarter could also be due to the state of the US economy. Rising inflation and the corresponding rise in fed reserve rates are worrying. Given the present state and the trend in net profits till now, it is…
The post Goldman Sachs Smashes Revenue Forecast, Will GS Stock Follow Same? appeared on BitcoinEthereumNews.com.
Goldman Sachs Group Inc, (NYSE: GS) announced its Q3, 2023 for the period ended on September 30 reports on October 17, 2023. GS exceeded its revenue expectations by more than $60 Million and fell short of EPS expectation by 1.26%. During the press release, David Soloman, CEO declared quarterly dividend of $2.75 per common share of Goldman Sachs. The record date for the same is November 30 and it will be issued on December 28. The dividend yield of GS is close to 3% and there is no change in the absolute amount of dividend from the last quarter. Historically, dividend yield has been growing for last 10 quarters while the amount in absolute terms remained stable through four quarters before moving up, slightly. On that basis, GS stockholders are expected to earn the same dividend for the next two quarters. Net Profits and Net Revenue are Following a Cyclical Trend There is a huge spike in net profits (attributable to shareholders) in comparison with last quarter by 75% from $1,071 Million to $1,882 Million. Despite the huge increase in profits on a quarterly basis, net revenue declined by 57% (annually basis). Essentially, there is volatility in the net profits trend. Looking at the above graph and the trend formed in the graph the company is showing seasonality in its revenue which is skeptical for a leading financial company like Goldman Sachs. If the current trend continues Net Profit can take a U-turn from the current level as Quarter four of 2022 had lower Net Profits. Fall in net profits in this quarter could also be due to the state of the US economy. Rising inflation and the corresponding rise in fed reserve rates are worrying. Given the present state and the trend in net profits till now, it is…
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