Business Insider
Published Jan 18, 2017 07:11AM ET
Updated Jan 18, 2017 10:19AM ET
Goldman Sachs (NYSE:GS) just reported fourth-quarter earnings that beat on the top and bottom lines.
The firm reported earnings per share of $5.08 on revenue of $8.17 billion for the quarter.
Analysts were expecting adjusted earnings per share of $4.80 on revenue of $7.76 billion, according to Bloomberg. It was initially unclear whether the earnings Goldman reported were adjusted.
Full-year earnings per share for 2016 were $16.29.
"After a challenging first half, the firm performed well for the remainder of the year as the operating environment improved," CEO Lloyd Blankfein said in a statement.
"We continued to manage our expenses carefully and we enter the new year with industry leading positions across our businesses, as well as strong capital and liquidity."
Here's the break-down by business:
Total trading revenues beat expectations, coming in at $3.60 billion ($3.45 billion expected). That's up 25% from the prior-year quarter but down 4% from the third quarter of 2016.
Investment banking revenues came in at $1.49 billion ($1.47 billion expected). That's down 4% from the year-ago quarter and 3% lower than the third quarter.
In (NYSE:C) is set to report around 8:00 a.m. ET Wednesday.
Written By: Business Insider
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.