Goldman Sachs Group Inc. (NYSE:GS) stock fell Thursday after the firm reported mixed fourth-quarter fiscal 2025 results.
Apple Card loans Loss
Net revenue declined 3% year over year (Y/Y) to $13.45 billion, missing the consensus estimate of $13.79 billion.
The decline was due to losses in Platform Solutions, mainly due to $2.26 billion in markdowns tied to transferring Apple (NASDAQ:AAPL) Card loans to held-for-sale status and contract termination costs as the program moves to a new issuer.
Net Interest Income rose to $3.71 billion in the quarter from $2.35 billion a year ago quarter.
Operating expenses rose 18% Y/Y to $9.72 billion, on higher compensation and benefits expenses and higher transaction-based expenses.
Bottom-Line Figures
Provision for credit losses was a net benefit of $2.12 billion versus net provisions …
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