$GS (+0,05%) Goldman Sachs - Quarterly Report Q1 2025

Key financial figures:

• Net sales: USD 15.06 billion (+6% vs. Q1 2024 at USD 14.21 billion)
• Net profit: USD 4.74 billion (+15% compared to USD 4.13 billion in Q1 2024)
• Earnings per share (diluted): USD 14.12 (Q1 2024: USD 11.58; Q4 2024: USD 11.95)
• Return on equity (ROE): 16,9 %
• Return on tangible equity (ROTE): 18,0 %
• Book value per share: USD 344.20 (+2.2 % in the quarter)

Business development by segment

Global Banking & Markets:

• Net revenues: USD 10.71 bn (+10% year-on-year, +26% quarter-on-quarter), driven by record results in equities trading (incl. financing) and strong results in fixed income, currencies and commodities (FICC), particularly in financing and debt issuance.
• Investment banking fees: USD 1.91 billion (-8% year-on-year), decline in advisory services, but higher income from debt issuance.

Asset & Wealth Management:

• Net sales: USD 3.68 billion
• Assets under management increased by USD 36 billion to a record USD 3.17 trillion.
• Capital return and dividends
• Return to shareholders: USD 5.34 billion in Q1 2025
• Share buybacks: USD 4.36 billion (7.1 million shares at an average price of USD 610.57)
• Dividends: USD 976 million
• Quarterly dividend: USD 3.00 per share, payable on June 27, 2025

$JPM (-0,08%)
$GS (+0,05%)

Here's a little bit of that today $GS (+0,05%) 😉

Visa has made Apple an offer of around 100 million dollars to secure the Apple Card. The background to this is that Goldman Sachs is withdrawing from the consumer credit business and the card will be reissued. In addition to Visa also fight American Express and Mastercard for the role of card network. Visa has made an aggressive offer, while American Express is competing as both issuer and network. Mastercard wants to retain its position as a network. The deal would be the end of Goldman's Goldman's failed attempt in the consumer credit business, which Apple which is worth around 20 billion dollars.

$V (+0,74%)
$MA (+0,04%)
$AXP (-0,28%)
$AAPL (-0,21%)
$GS (+0,05%)

Source: https://www.tradingview.com/news/DJN_DN20250401009397:0/

BofA highlights these stocks, which it sees as having potential despite the political uncertainty in the USA.

• Agnico Eagle $AEM (+0,71%)
• Eli Lilly $LLY (+3,39%)
• Goldman Sachs $GS (+0,05%)
• Ralph Lauren $RL (+2,22%)
• RenessainceRe $RNR (+1,84%)
• Energy Transfer $ET
• AMETEK $AME (+1,62%)
• Bath & Body $BBWI (-0,43%)
• The Trade Desk $TTD (-1,93%)

Goldman Sachs lowers US growth forecast

Goldman Sachs $GS (+0,05%) has been thinking about the future of the US economy and has now issued a cautious assessment. In a recent research note, the economics team has reduced its forecast for GDP in 2025 from 2.4 % to 1.7 %. Jan Hatzius, the chief economist, explains that the assumptions regarding trade policy have deteriorated significantly. For the first time in over two years, the forecast is below the consensus estimates, which expect growth of over 2% this year. Inflation expectations have also been raised, with Goldman Sachs forecasting 3%. These adjustments reflect the uncertainties created by rising tariffs and the current political environment. An increase in average US tariffs of 10 percentage points could further weigh on the economic outlook.

Beacon Roofing Supply in takeover talks

The shares of Beacon Roofing Supply $BECN have seen an upswing, rising by around 7% after news broke that the company is in talks with technology company QXO $QXO about a possible takeover. The deal could allow QXO to acquire Beacon for a whopping $11 billion, which equates to an offer of $124.35 per share. Although Beacon had previously rejected takeover attempts by QXO, the current rise in the share price shows the interest of investors. QXO shares, on the other hand, fell nearly 2% while due diligence is underway to review Beacon's business records. Interestingly, Beacon's share price has risen by almost 40% in the last 12 months.

CoreWeave secures $12 billion deal with OpenAI

CoreWeave, a start-up specializing in artificial intelligence, has secured an impressive $11.9 billion cloud computing deal with OpenAI $OPENAI ERC has signed. This five-year deal will not only give CoreWeave access to OpenAI, but will also secure a stake in the company by issuing $350 million worth of shares. However, despite the high value of the share issue, CoreWeave will not generate any direct revenue from this move. The timing and size of the potential IPO will depend heavily on market conditions. A successful IPO could pave the way for other AI start-ups considering similar moves. CoreWeave reports revenues of 1.92 billion dollars for 2024, a remarkable increase compared to 228.9 million dollars in the previous year.

Sources:

https://finance.yahoo.com/news/goldman-sachs-slashes-us-economic-forecasts-as-tariff-impacts-grow-considerably-more-adverse-170805099.html

https://finance.yahoo.com/news/beacon-roofing-supply-stock-soars-191041521.html

https://finance.yahoo.com/news/exclusive-coreweave-strikes-12-billion-182359450.html

Have you heard? Hedge funds have been selling U.S. tech and media stocks at the fastest pace in six months over the past two weeks, through Feb. 21. According to Goldman Sachs $GS (+0,05%) this is happening just as Nvidia $NVDA (+0,4%)one of the biggest tech companies, presents its earnings figures.

Nvidia shares are particularly interesting because they are seen as an indicator of the booming AI sector. With a market value of over 6.3% in the S&P 500, Nvidia is the second most valuable company in the world. Its shares have risen by an incredible 550% in the last two years!

According to Goldman Sachs' analysis, speculators have "aggressively" reduced both their long and short positions in AI equipment and media companies. This shows how uncertain investors are at this time. While hedge funds were losing money on their short bets, they were making profits on their long positions.

US markets saw a drop on Friday, partly due to disappointing economic data. Do you think this selling is a sign of a larger trend or is it just a short-term reaction to market conditions? 📈

Small discount campaign used. Ek now at 469€

The year 2025 is off to a very good start for many financial stocks ($JPM (-0,08%)
$SOFI (+2,03%)
$NU (+1,66%)
$V (+0,74%)
$MA (+0,04%)
$C (-0,3%)
$GS (+0,05%) )

but not much is happening at Blackrock so far

since I find the sector very exciting and the stock did well last year, I will take the opportunity and further expand my position

(buy and hold forever if possible)