The Goldman Sachs Group, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2012; Declares Dividend, Payable on March 28, 2013
January 16, 2013 at 07:35 am EST
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The Goldman Sachs Group, Inc. announced unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2012. For the quarter, the company reported net interest income was $973 million against $1,065 million a year ago. Net revenues, including net interest income were $9,236 million against $6,049 million a year ago. Pre-tax earnings were $4,313 million against $1,247 million a year ago. Net earnings were $2,892 million against $1,013 million a year ago. Net earnings applicable to common shareholders were $2,833 million or $5.60 per diluted share against net earnings applicable to common shareholders of $978 million or $1.84 per diluted share a year ago. Annualized ROE was 16.5% for the fourth quarter of 2012. Investment banking produced fourth quarter net revenues of $1.4 billion, up 21% from the third quarter. The revenue increase was due to higher equity underwriting revenues following a weak third quarter and continued strength in debt underwriting.
For the year, the company reported net interest income of $3,880 million against $5,192 million a year ago. Net revenues, including net interest income were $34,163 million against $28,811 million a year ago. Pre-tax earnings were $11,207 million against $6,169 million a year ago. Net earnings were $7,475 million against $4,442 million a year ago. Net earnings applicable to common shareholders were $7,292 million or $14.13 per diluted share against net earnings applicable to common shareholders of $2,510 million or $4.51 per diluted share a year ago. Return on average common shareholders' equity was 10.7% for 2012. Book value per common share increased approximately 11% to $144.67 and tangible book value per common share increased approximately 12% to $134.06 compared with the end of 2011. For the full year, Investment Banking net revenues were $4.9 billion, up 13% from 2011 and due to a robust environment for debt issuance.
The company declared a dividend of $0.50 per common share to be paid on March 28, 2013 to common shareholders of record on February 28, 2013.
The Goldman Sachs Group, Inc. specializes in investment services. Revenues break down by activity as follows:
- investment services (47%): involved in the stock, interest, exchange, raw material, and other;
- asset and wealth management (22.7%). The group is also makes investments in fast growing technology companies;
- investment banking (18.5%): consulting for merger-acquisitions, stock operations, etc.;
- others (11.8%).
Revenues are distributed geographically as follows: Americas (60.5%), Europe/Middle East/Africa (27.2%) and Asia (12.3%).
The Goldman Sachs Group, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2012; Declares Dividend, Payable on March 28, 2013