Goldman Posts Record Underwriting Revenue as Trading Dips
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Goldman Sachs Group Inc. reported the highest annual earnings in three years as underwriting revenue surged to a record and the firm’s reliance on trading fell to the lowest level in more than a decade.
Net income climbed 8 percent in 2013 to $8.04 billion, the New York-based company said today in a statement. In the fourth-quarter, profit dropped 19 percent to $2.33 billion, or $4.60 a share, from $2.89 billion, or $5.60, a year earlier. That surpassed the $4.18 average estimate of 25 analysts in a Bloomberg survey.