Goldman Sachs reported a staggering profit increase in the fourth quarter, doubling from the previous year to $4.11 billion, or $11.95 per share. This performance significantly outstripped the LSEG estimate of $8.22 per share. Revenue also surged by 23% to $13.87 billion, exceeding expectations of $12.39 billion. The bank’s success was driven by robust trading results, with equities trading revenue reaching $3.45 billion, $450 million above estimates, and fixed income trading revenue at $2.74 billion, $300 million over expectations. Investment banking fees held steady at $2.05 billion, aligning with forecasts. Additionally, the asset and wealth management division saw an 8% revenue increase to $4.72 billion, surpassing estimates by $560 million. Shares of Goldman Sachs rose nearly 4% in premarket trading, reflecting investor confidence in the bank’s performance.
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