Goldman Sachs lost $1.2 billion in 2022 mostly because of Apple Card

Goldman Sachs’ consumer credit division lost $1.2 billion in nine months last year, and the losses were primarily related to the Apple Card.

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Goldman’s collection of businesses, known as Platform Solutions, lost over $1.2 billion in pre-tax losses in the first nine months of 2022 and was driven mainly by loan-loss provisions. It was mostly tied to the Apple Card, according to Business Insider.

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