Goldman Sachs: Q4 much better than expected

(CercleFinance.com) - Goldman Sachs reported much better-than-expected Q4 results on Wednesday, notably thanks to the strength of its investment banking and equity trading activities.


Net income for the last three months of the year was $4.11bn, or $11.95 per share, compared with around $3bn ($8.40 per share) a year earlier.

In comparison, the consensus was looking for EPS of $8.35.

Net banking income (NBI) rose by 23% to $13.87bn, compared with analysts' expectations of around $12.5bn.

Income from the investment bank, which generates lucrative commissions, climbed by 24% to $2.05bn, boosted by IPO and private placement transactions.

Equity trading revenues jumped 32% to $3.45bn, but it was the FICC division (bonds, forex, commodities) that posted the most spectacular growth, with a 35% increase in activity to $2.74bn.

In a press release, David Solomon, CEO of the New York-based bank, said he was "delighted" with this performance, pointing out that the bank had achieved all its targets set five years ago, resulting in a 50% increase in revenues in the intervening period.

In pre-market trading on Wall Street, the stock was up over 2.5%.


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