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Jan. 19, 2021, 7:44 a.m. EST

Goldman Sachs stock rallies as profit more than doubles and beats expectations

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By Tomi Kilgore

Shares of Goldman Sachs Group Inc. /zigman2/quotes/209237603/composite GS +0.31% rose 2.0% in premarket trading Tuesday, after the bank and brokerage reported fourth-quarter net income that more than doubled and beat expectations by a wide margin, and revenue that also beat forecasts. Net income grew to $4.51 billion, or $12.08 a share, from $1.72 billion, or $4.69 a share, in the year-ago period. The FactSet consensus was for earnings per share of $7.45. Total revenue increased 17.9% to $11.74 billion, above the FactSet consensus of $9.99 billion, as net interest income jumped 32.4% to $1.41 billion to beat expectations of $1.14 billion. Among business segments, revenue increased the most in market making (53%) and investment banking (34%). Within investment banking, equity underwriting revenue nearly tripled (up 195%) to $1.12 billion, above the FactSet consensus of $784.4 million, while debt underwriting rose 68% to $526 million but missed expectations of $583.8 million. Fixed income, currencies and commodities (FICC) revenue grew 6% to $1.88 billion, missing expectations of $2.06 billion, while equities revenue rose 40% to $2.39 billion to surpass expectations of $1.89 billion. The stock has run up 46.3% over the past three months through Friday, while the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -0.46% has gained 9.3%.

$ 330.94
+1.02 +0.31%
Volume: 2.85M
March 2, 2021 4:00p
P/E Ratio
Dividend Yield
Market Cap
$113.51 billion
Rev. per Employee
US : Dow Jones Global
-143.99 -0.46%
Volume: 341.28M
March 2, 2021 5:08p

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