Goldman Sachs shares hit record high after blowing doors off Q4 estimates
Goldman Sachs blew the doors off estimates from Wall Street analysts for its fourth quarter results, propelling the shares to a fresh all-time high.
Dow Jones I.A.
37,775.38
04:30 15/10/20
Goldman Sachs Group Inc.
$403.11
10:59 18/04/24
The investment bank posted an 18% jump in total net revenues to $11.74bn while net earnings were 135% higher at $4.51bn, for earnings per share of $12.08 (consensus: $6.88).
Powering the jump in the investment bank's topline was a rise in equity trading revenues from $1.71bn in the comparable year ago period to $2.39bn (consensus: $1.89bn).
Revenues from Fixed Income, Currencies and Commodities trading also grew, albeit by less than expected, from $1.77bn to $1.88bn (consensus: $2.06bn).
For 2020 as a whole, revenues surged 22% to $44.56bn for a 12% jump in net profits to $9.45bn.
As of 1320 GMT, shares of Goldman Sachs were up by 2.6% to $308.84.