The following is a summary of the The Goldman Sachs Group, Inc. (GS) Q1 2024 Earnings Call Transcript:

Financial Performance:

The Goldman Sachs Group reported net revenues of $14.2 billion and net earnings of $4.1 billion in Q1 2024, resulting in earnings per share of $11.58.
The common equity tier-1 ratio stood at 14.7% at the end of the first quarter, with the company returning $2.4 billion to shareholders, including common stock repurchases of $1.5 billion and common stock dividends of $929 million.
The total loan portfolio at quarter-end was $184 billion, with a provision for credit losses of $318 million.
The company’s Global Banking & Markets division generated revenues of $9.7 billion in Q1, resulting in an 18% return on equity.
Asset & Wealth Management division’s revenues stood at $3.8 billion, marking an 18% YoY increase.

Business Progress:

Goldman Sachs experienced a revival in new issue market access in early 2024, driving a resurgence in initial public offerings (IPOs) and increased investor risk appetite.
Assets under supervision rose to a new record of $2.8 trillion, marking the 25th consecutive quarter of long-term fee-based net inflows.
The company raised $14 billion in commitments in Alternatives despite a challenging fundraising environment and reported increased demand for outsourced CIO and SMA offerings.
The company anticipates significant demand for AI-related infrastructure and financing, positioning the firm to benefit from this trend. They are investing in exploring and applying machine learning and AI applications to enhance operational efficiency and productivity.
Goldman Sachs reiterated commitment to the growth of Transaction Banking, albeit reduced global footprint. They maintain focus on top 150 clients, targeting to be within the top three preferences for 90% of these. The company plans to adjust business operations based on any new regulations in financing activities.