- Goldman Sachs posted a powerful fourth-quarter earnings report Tuesday.
- Its income for the three months ending December 31 jumped 51% to over $2 billion.
- Income for the financial institution’s asset-management and stock-trading companies got here in above Wall Road’s expectations.
Goldman Sachs posted a better-than-expected fourth-quarter earnings report Tuesday, bringing a generally turbulent monetary yr for the financial institution and its CEO David Solomon to a detailed.
Goldman’s income for the three months ending December 31 jumped 51% year-over-year to only over $2 billion, or $5.48 per share – approach away from the $3.51 per share determine analysts polled by Refinitiv had been anticipating.
Its income for the quarter got here in at $11.3 billion, barely greater than Wall Road’s forecast of $10.8 billion, due to robust progress in its asset-management and stock-trading departments.
Goldman had beforehand positioned 2023 as a transitional yr the place it could pivot away from its shopper banking enterprise, the place it had racked up billion-dollar losses.
“This was a yr of execution for Goldman Sachs,” Solomon mentioned in a assertion. “With the whole lot we achieved in 2023 coupled with our clear and simplified technique, we’ve a a lot stronger platform for 2024.”
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