Goldman Sachs: EPS and revenues exceed expectations
The New York-based firm posted fourth-quarter net income of $1.87 billion, or $5.58 per share, compared with $1.18 billion - or $3.32 per share - for the same period last year.
By way of comparison, analysts were on average targeting lower EPS of $3.20.
The asset management and wealth management arm saw net revenues rise by 23% to $4.39 billion thanks to investment gains, compared with investment losses in the fourth quarter of 2022.
By contrast, revenues from investment banking - which includes capital markets activities - fell by 3% to $6.35 billion, penalized by limited M&A activity and lower interest rates.
With the rebound in world stock markets at the end of the year, net revenues from equity markets climbed by 26% to $2.61 billion.
In all, Goldman Sachs reported net income of $11.32 billion for the quarter, up 7% year-on-year, compared with a consensus figure of $9.85 billion.
Following these announcements, the stock gained 1.4% in pre-market trading on Tuesday morning on Wall Street.
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