Apple, AAPL, Card responsible for more than $1 billion in losses for Goldman Sachs, GS, per Bloomberg.
In just the first nine months of 2022, the businesses including Apple Card saw a pretax loss of over $1.2 billion.
From 2020 to the end of September 2022, those losses amounted to $3 billion.
Bloomberg reports that sources close most of the $1 billion loss in 2021 came from Apple Card.
Apple, AAPL, Card responsible for more than $1 billion in losses for Goldman Sachs, GS
1/18/2023
Previous estimates inside Goldman aimed for breaking even with the Platform Solutions division by 2022, per Bloomberg.
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