Global Finance News
09 Jan 2026, 06:19
The Goldman Sachs Group, Inc. disclosed under Item 2.02 (Results of Operations and Financial Condition) that it has entered into an agreement to transition the Apple Card program and related customer accounts to a new issuer. The transition is expected to be completed in approximately 24 months.
The transaction is expected to increase Goldman Sachs’ fourth-quarter 2025 diluted earnings per share by $0.46. This impact primarily reflects the release of $2.48 billion in loan loss reserves recorded within provision for credit losses. The benefit is partially offset by a $2.26 billion reduction in net revenues, driven by markdowns on the outstanding Apple Card credit card loan portfolio and contract termination obligations, as well as $38 million in operating expenses.
The transaction is expected to increase Goldman Sachs’ fourth-quarter 2025 diluted earnings per share by $0.46. This impact primarily reflects the release of $2.48 billion in loan loss reserves recorded within provision for credit losses. The benefit is partially offset by a $2.26 billion reduction in net revenues, driven by markdowns on the outstanding Apple Card credit card loan portfolio and contract termination obligations, as well as $38 million in operating expenses.