Share Prices & Company Research

Market News

15 Jan 2025 | 13:09

Goldman Sachs posts bumper numbers, shares spark

(Sharecast News) - Goldman Sachs posted forecast-beating numbers on Wednesday, boosted by strong performances across investment banking and wealth management. The Wall Street bank said revenues jumped 23% in the three months to December end to $13.87bn, ahead of forecasts, while diluted earnings per share swelled to $11.95 from $5.48 a year earlier.

For the full-year, net revenues were 16% higher at $53.51bn, while net earnings were $14.28bn.

Within that, global banking and markets generated net revenues of $34.94bn, driven by a record performance in both equities and fixed income, currency and commodities.

Investment banking fees jumped 24% to $7.73bn in the full year, and by 24% in the fourth quarter to $2.05bn.

Asset and wealth management, meanwhile, saw revenues rise 16% to $16.14bn in 2024.

Return on equity, a key measure of profitability, jumped 14.6%, also ahead of estimates.

David Solomon, chief executive, called the numbers "strong".

He continued: "I'm encouraged that we have met or exceeded almost all of the targets we set in our strategy to grow the firm five years ago and, as a result, we have both grown our revenues by nearly 50% and enhanced the durability of our franchise."

Shares in Goldman Sachs put on 4% in pre-market trading.
Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new portfolio or transferring your portfolio from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.