Goldman said earnings for the three months ending in December were pegged at $12.08 per share, nearly triple the tally from last year and firmly ahead of the Street consensus forecast of $7.47 per share. Group revenues, Goldman said, rose 17.8% to $11.74 billion, again beating analysts' forecasts.
Revenues in the banks consumer and wealth management division rose 17% to $1.65 billion, the bank said, while investment banking revenues surged 27% to $2.613 billion. Equity trading revenues rose 40% to $2.39 billion, Goldman said.
“It was a challenging year on many fronts, and I am deeply proud of how our people helped clients respond to the economic disruption brought on by the pandemic and the extreme market volatility experienced over the past months," said CEO David Solomon. "Our people responded admirably to a series of professional and personal challenges, while working from home or in offices that were reshaped dramatically. Thanks to their perseverance, we were able to help clients navigate a difficult environment, and, as a result, achieved strong results across the franchise, while advancing our strategic priorities."
"We hope this year brings much needed stability and a respite from the pandemic, but we remain ready to handle a wide range of outcomes and are poised to meet the needs of our clients,” he added.
Goldman Sachs shares were marked 1% lower in early trading following the earnings release to change hands at $297.70 each, trimming their six-month gain to around 41.1%.