Goldman Sachs reports Q3 FICC net revenue $3.38B, down 6% y/y

Net revenues in FICC were $3.38 billion, 6% lower than a strong third quarter of 2022, reflecting lower net revenues in FICC intermediation, driven by significantly lower net revenues in currencies and commodities and lower net revenues in credit products, partially offset by significantly higher net revenues in interest rate products and mortgages. Net revenues in FICC financing increased slightly. Net revenues in Global Banking & Markets were $8.01 billion for the third quarter of 2023, 6% higher than the third quarter of 2022. Asset & Wealth Management generated quarterly net revenues of $3.23 billion. Platform Solutions generated quarterly net revenues of $578 million, 53% higher than the amount in the prior year period. Book value per common share increased by 1.5% during the quarter and 3.4% during the first nine months of 2023 to $313.83.