Financials

Goldman Sachs Gr (NYSE:GS) reported quarterly earnings of $5.48 per share which beat the analyst consensus estimate of $3.20 by 71.25 percent. This is a 65.06 percent increase over earnings of $3.32 per share from the same period last year. The company reported quarterly sales of $11.32 billion which beat the analyst consensus estimate of $9.85 billion by 14.90 percent. This is a 6.84 percent increase over sales of $10.59 billion the same period last year.

Goldman Sachs Bought Back 3.2 Million Shares for $1 Billion During 4Q.

By AnnaMaria Andriotis and Charley Grant Goldman Sachs reported sharply higher profit for the fourth quarter, bolstered by a strong performance in its asset and wealth management business. The bank on Tuesday said quarterly profit was $2.01 billion, up 51% from a year ago. That amounted to $5.48 per share. Analysts polled by FactSet had expected $3.62 per share. Revenue was $11.32 billion, up 7% from a year ago. That beat the $10.8 billion expected by analysts. Like its peers, Goldman had to recognize a special assessment by the Federal Deposit Insurance Corp. The agency charged lenders as a way to refill its coffers from last year’s bank failures. Goldman took a $529 million charge, roughly in line with what it had already predicted. Goldman shares were up nearly 1% in premarket trading. Investors welcomed the report, especially after eight previous quarters of earnings declines. The bank has been engaged

Goldman Sachs (GS) reported Q4 earnings Tuesday of $5.48 per diluted share, up from $3.32 a year earlier. Analysts polled by Capital IQ expected $3.93. Revenue for the quarter ended Dec. 31 expressed as the sum of net interest income and total noninterest income was $11.32 billion, up from $10.59 billion a year earlier. Analysts surveyed by Capital IQ expected $10.96 billion.

Dealmaking was still slow for Goldman Sachs in 4Q, but the investment bank was lifted by better results in asset and wealth management. Net revenues in Global Banking & Markets were $6.35 billion for 4Q, 3% lower than a year ago, and 21% lower than the prior quarter. Investment banking fees were $1.65 billion, 12% lower the year-ago period reflecting a decline in industry-wide mergers and acquisitions, which was partially offset by higher revenue from debt and equity underwriting, the investment bank says. Still, Goldman’s overall top-line results were buoyed by improvements in asset and wealth management, where revenue was up 23% from a year ago and 36% from the prior quarter. Shares rise 1.3% to $382.70 pre-market.