Goldman Sachs Group Inc. reported record annual results for 2006, with revenues, net earnings, earnings per share and return on equity all reaching new highs.
Goldman Sachs reported net revenues of US$37.67 billion and net earnings of US$9.54 billion for the year ended November 24. Earnings per share was up 76% compared with 2005. Return on average tangible common shareholders’ equity was 39.8% and return on average common shareholders’ equity was 32.8% for 2006.
Investment Banking generated record net revenues of US$5.63 billion, 5% higher than the previous record set in 2000. Fixed Income, Currency and Commodities produced record net revenues of US$14.26 billion, 60% higher than the previous record set in 2005. Equities generated record net revenues of US$8.48 billion, 50% higher than the previous record set in 2005. Principal Investments achieved record net revenues of US$2.82 billion. Asset Management achieved record net revenues of US$4.29 billion. Securities Services achieved record net revenues of US$2.18 billion.
“We are very pleased with this year’s performance,” said Lloyd Blankfein, chairman and CEO. “The breadth of our franchise, the diversity of our businesses and the performance of our people enabled us to serve our clients around the world.”
Also, the firm said that fourth quarter net revenues were US$9.41 billion and net earnings were US$3.15 billion.