"There has been a meaningful shift in CEO confidence, particularly following the results of the U.S. election," Goldman Sachs CEO David Solomon said, according to a transcript from FactSet. Donald Trump, who is set to return to the White House on Monday, is seen as broadly more business-friendly than outgoing President Joe Biden.
The first earnings season of 2025 is kicking off, and as always, the financial sector leads investors into the first round of action this week. While banking stocks aren't that exciting to most, the biggest investment banks usually give many clues as to where the economy currently is or might be headed.
The headline numbers for Goldman (GS) give insight into how the company performed in the quarter ended December 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Goldman Sachs (GS) came out with quarterly earnings of $11.95 per share, beating the Zacks Consensus Estimate of $8.07 per share. This compares to earnings of $5.48 per share a year ago.
Global financial services giant Goldman Sachs (GS 1.52%) reported strong fourth-quarter and full-year earnings on Wednesday, Jan. 15, topping analyst estimates for the quarter. The company's Q4 EPS climbed to $11.95, far surpassing the analyst estimate of $8.21.
Goldman Sachs saw fourth-quarter profits more than double to $4.1 billion as its equity traders delivered their best year on record. Sonali Basak reports on Bloomberg Television.
CNBC's Leslie Picker joins 'Squawk Box' to report on the company's quarterly earnings results.
Goldman Sachs Group Inc (NYSE:GS) shares are set to climb on Wednesday after the investment bank's fourth-quarter earnings smashed estimates. Earnings per share for the quarter came in at $11.95 a share, miles higher than the $8.22 that Wall Street has pencilled in and 42% higher than the third quarter of 2024 and up 118% year-on-year.
Goldman Sachs (GS) shares gained in premarket trading Wednesday after the bank reported better-than-expected fourth-quarter results.
Goldman Sachs and Morgan Stanley will most likely announce strong revenue growth in full-year results due Tuesday and Wednesday respectively, as an M&A uptick kept their dealmakers busy. Analysts expect both banks to turn in a roughly 12% year-over-year bump in net revenue for all of 2024. Consensus forecasts also expect Goldman and Morgan Stanley's investment banking fees to see a stronger boost of 24% and 35%, respectively. But the boom-bust cycle is rearing its head. Amid inflationary fears and dimming hopes of monetary easing, interest rates are spiking on long-term U.S. government bonds, in turn pushing up rates for companies.
Goldman Sachs' profit more than doubled in the fourth quarter, driven by bankers who brought in more fees from dealmaking, debt sales and strength in trading, sending shares up 3% before the bell.
Goldman Sachs reports fourth-quarter earnings before market open Wednesday. Analysts surveyed by LSEG expect earnings per share of $8.22 and revenue of $12.39 billion.