Goldman Sachs Expects Benefits from Apple Card Exit

By Kelly Cloonan

Goldman Sachs expects its fourth-quarter results to get a boost from its exit from its Apple credit-card program.

The firm forecasts the exit will result in a 46 cent increase to earnings per share in the quarter, according to a Thursday filing with the Securities and Exchange Commission.

The increase reflects a release of $2.48 billion in loan loss reserves, partially offset by lower revenue from $2.26 billion related to markdowns on the outstanding credit card loan portfolio and contract termination obligations as well as $38 million in operating expenses.

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(END) Dow Jones Newswires

01-08-26 1651ET