Wall Street giant, Goldman Sachs Group, Inc. (GS) reported Q4 earnings recently, exceeding market estimates as they rode high on equities trading and investment banking. The bank reported EPS of $12.08 versus. $7.47 expected. Net revenue of $11.74 billion was reported versus. $10.07 billion expected.
- Goldman’s investment bank posted record revenues of $2.61 billion, up 27% from the same period a year ago based on higher activity in underwriting and financial advisory.
- Net revenues in global markets reported $4.27 billion in the quarter, up 23% from a year ago.
- FICC trading revenues increased 6% to $1.88 billion, while net revenues in equities rose 40% from a year ago, to $2.39 billion.
- The consumer and wealth management business reported net revenues of $1.65 billion, up 17% from the prior year.
- Wealth management revenues stood at $1.31 billion, while net revenues in consumer banking came in at $347 million.
- Goldman Sachs put $293 million aside in the fourth quarter, a 13% decrease from the same period a year ago, but 5% higher than the previous quarter.
“We hope this year brings much-needed stability and a respite from the pandemic, but we remain ready to handle a wide range of outcomes and are poised to meet the needs of our clients,” stated Goldman CEO David Solomon.
The Goldman Sachs Group, Inc. (GS) is one of the world’s leading investment bankers & also a securities and investment management firm that offers a wide range of financial services with a diversified client base. To learn more about The Goldman Sachs Group, Inc. (GS) and to continue to track its progress please visit the Vista Partners Goldman Sachs Group, Inc. (GS), Coverage Page.
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