Economics
Goldman Earnings Climb as Bond Trading Beats Expectations
- Fixed-income trading revenue jumps 78%, equities decline
- Annual revenue of $30.6 billion was lowest in five years
Goldman Sachs Bond-Trading Revenue Surges in 4Q
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Goldman Sachs Group Inc. reported fourth-quarter earnings that beat analysts’ estimates on a surge in bond-trading revenue as Donald Trump’s surprise victory fueled speculation economic growth will accelerate.
Net income rose to $2.35 billion, or $5.08 a share, from $765 million, or $1.27 a year earlier, when the lender set aside $1.54 billion to pay a mortgage settlement, the New York-based company said in a statement Wednesday. Earnings excluding litigation and charity-related items were $5.48 a share, topping the $4.84 estimate of analysts surveyed by Bloomberg.