Finance
Goldman Profit Doubles as Stock Traders Score Record Haul
- Firm logs $4.1 billion of net income in the fourth quarter
- Bank is betting improving outlook will drive better results
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Goldman Sachs Group Inc. cruised past estimates as its equity traders delivered their best year on record.
The firm’s fourth-quarter profits more than doubled to $4.1 billion, buoyed by strength in its investment bank, expansion of its money-management business and a surprise $472 million gain from balance-sheet bets.