Goldman Sachs Group, Inc. (GS.US) Q4 performance significantly exceeded expectations! Stock trading revenue reached a new high.

Goldman Sachs Group, Inc. (GS.US) announced its financial performance for the fourth quarter of 2024. The financial report shows that Goldman Sachs Group, Inc. had fourth-quarter revenue of $13.87 billion, a 23% increase year-on-year, exceeding market expectations of $12.37 billion; Net interest income (NII) was $2.35 billion, a 75% increase year-on-year, exceeding market expectations of $2.11 billion. Net profit was $4.11 billion, a 105% increase year-on-year, benefiting from strong growth in investment banking, expansion of asset management business, and a $472 million unexpected gain from a balance sheet bet. Diluted earnings per share were $11.95, significantly better than market expectations of $8.21 and $5.48 in the same period last year. By business segment, Goldman Sachs Group, Inc.'s global banking and market business total revenue was $8.48 billion, a 33% increase year-on-year. Among them, equity trading revenue increased by 32% year-on-year to a record-breaking $3.45 billion, surpassing market expectations of $3.02 billion; investment banking revenue increased by 24% year-on-year to $2.05 billion, exceeding market expectations of $2 billion; driven by revenue from foreign exchange, mortgages, and credit products, fixed income, currencies, and commodities (FICC) revenue increased by 35% year-on-year to $2.74 billion. In addition, Goldman Sachs Group, Inc.'s asset and wealth management business total revenue was $4.72 billion, an 8% increase year-on-year. Goldman Sachs Group, Inc.'s credit loss provision for Q4 was $3.51 billion, lower than the $5.77 billion in the same period last year. Q4 return on equity soared to 14.6%, significantly exceeding market expectations. After Goldman Sachs Group, Inc. became the best-performing bank in the United States in terms of stock price with a gain of over 52% in 2024, investors are expecting signs of this momentum to continue in the latest financial report. After abandoning its main business of entering the consumer market, Goldman Sachs Group, Inc. is preparing for the long-awaited recovery of its stock trading business. Goldman Sachs Group, Inc. CEO David Solomon stated, "We have met or exceeded almost all of the goals set in our company's development strategy five years ago, which is encouraging to me." Goldman Sachs Group, Inc.'s current stock price is nearly 1.7 times its book value, a remarkable turnaround from falling below 1x over a year ago. At the time of writing, Goldman Sachs Group, Inc. was up over 2% in pre-market trading on Wednesday.