Goldman Sachs reported fourth-quarter earnings that beat expectations, driven by stronger-than-expected trading revenue. Earnings per share rose 45% to $11.95, surpassing the LSEG estimate of $8.22.
Revenue grew 23% to $13.87 billion, largely due to increased equities and fixed income trading revenue. Equities trading generated $3.45 billion, exceeding the StreetAccount estimate by nearly half a billion dollars.
The bank’s asset and wealth management division also saw significant growth, with revenue jumping 8% to $4.72 billion. CEO David Solomon attributed the company’s success to an “improving operating backdrop” and growing confidence among clients.
Goldman Sachs shares rose over 5% in morning trading, marking a continuation of their strong performance from last year. The bank’s shares have risen nearly 50% in the past year, outperforming its peers.
Source: https://www.cnbc.com/2025/01/15/goldman-sachs-gs-earnings-q4-2024.html