Goldman Sachs to Transition Apple Card Program, Anticipates EPS Impact

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announced its decision to transition the Apple Card program to a new issuer, a move expected to be completed within 24 months. This strategic shift is anticipated to add $0.46 to the firm's diluted earnings per share for the fourth quarter of 2025. The financial implications include a $2.48 billion release of loan loss reserves, partially offset by a reduction in net revenues of $2.26 billion and $38 million in operating expenses. Simultaneously, the firm is restructuring its business segments to sharpen its strategic focus on consumer-related activities.

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About Goldman Sachs Group Inc.

Goldman Sachs Group Inc. is a leading global investment banking, securities, and investment management firm. Its primary function is to provide a wide array of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments, and individuals. Notable for its extensive involvement in merger and acquisition advisory, underwriting securities, asset management, and trading, Goldman Sachs plays a crucial role in the financial markets. The firm operates through four main business segments: Investment Banking, Global Markets, Asset Management, and Consumer & Wealth Management. Each segment specializes in delivering tailored financial solutions and strategic advisory services. Founded in 1869 and headquartered in New York City, Goldman Sachs is renowned for its influence in international financial services, where it helps drive market trends and capital flows, impacting various industries worldwide. Its expertise and extensive network have made it a pivotal player in facilitating global capital movements and economic growth.