Stronger-than-expected Q4 earnings for Goldman Sachs
For Q4 2020, Goldman Sachs reported an EPS of $12.08, topping the $7.47 per share forecasted. Revenue-wise, the market was looking for $9.9 billion, but the actual figure was $11.74 billion.
Goldman Sachs’ investment division reported for 2020 revenues of $9.42 billion, a record for the bank. Moreover, the bank’s trading division had the highest annual revenue in a decade, rising 43% from the figures reported in 2019.
According to CEO David Solomon, the numbers are just the result of the bank’s efforts to help its clients during the pandemic. “We were able to help clients navigate a difficult environment, and, as a result, achieved strong results across the franchise, while advancing our strategic priorities,” he stated.
Following the report, Goldman Sachs stock price added 2% in premarket trading. In 2020, the stock added 11%.
Read here about how other banks have performed in Q4!