Goldman Sachs’ profits surpass earlier estimates
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Goldman Sachs Group Inc., the world's largest investment bank, said Tuesday its fourth-quarter net income rose by 2 percent from a year earlier. The company's profit could beat expectations for the eighth straight quarter. Goldman Sachs said it had earned 3.22 billion U.S. dollars in the period to Nov. 30, or 7.01 U.S. dollars per share, compared to 3.15 billion U.S. dollars, or 6.59 dollars per share a year earlier. Analysts have, on average, expected the firm to earn 6.61 dollars per share. Company revenue has risen to 10.74 billion U.S. dollars from 9.41 billion dollars a year earlier. The company contributed the upbeat financial results to gains in its investment banking and financial advisory segments. Goldman's stock climbed 29 percent during the fourth quarter to close November at 226.64 U.S. dollars per share. |
