Goldman 4Q profit, revenue top Wall Street expectations
NEW YORK (AP) — Goldman Sachs Group says fourth-quarter net income totaled $2.54 billion, after reporting a loss in the same period a year earlier.
The company said Wednesday it had earnings of $6.04 per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $4.88 per share.
The New York investment bank posted revenue of $8.08 billion in the period. Its revenue net of interest expense was $8.08 billion, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $7.59 billion.
Goldman shares have climbed nearly 8 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased 4 percent. The stock has declined 30 percent in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GS at https://www.zacks.com/ap/GS
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