Goldman Sachs released its fourth-quarter earnings report on Thursday. The firm's earnings were reported at $14.01 per share, against an estimate of $11.67 per share. Revenue was $13.45 billion, compared to an estimated $13.79 billion.
The company was positioned to benefit from several market trends during the fourth quarter. Trading desks across Wall Street experienced increased activity due to market fluctuations influenced by President Donald Trump's policies across various asset classes, including bonds, currencies, commodities, and stocks. This trend was also observed with rival JPMorgan Chase, which surpassed fourth-quarter expectations due to strong performance in equities and fixed income trading revenue.
Global investment banking revenue saw a 12% increase year-over-year during the quarter, according to Dealogic data, which was expected to positively impact Goldman's advisory services. Additionally, the firm's asset and wealth management division was anticipated to show gains, supported by sustained high stock market levels throughout the quarter.
Goldman Sachs also announced a deal last week to divest its Apple Card business to JPMorgan, a move projected to contribute an additional 46 cents per share to its quarterly results.