Goldman Sachs Stock Gains After Beating Q4 Estimates

Goldman Sachs Stock Gains After Beating Q4 Estimates

Goldman Sachs (GS) shares rose 1.5% in premarket trading Wednesday after the bank delivered stronger-than-expected fourth-quarter results. The bank reported a profit of $4.11 billion on $13.87 billion in revenue, surpassing analysts' estimates of $2.89 billion and $12.31 billion, according to Visible Alpha.

Net interest income reached $2.35 billion, exceeding the expected $2.1 billion. CEO David Solomon expressed optimism, stating, "We have met or exceeded almost all of the targets set five years ago, growing revenues by nearly 50% and strengthening our franchise."

Goldman shares have climbed over 50% in the past year and had consistently beaten estimates in the first three quarters of fiscal 2024, driven by a robust stock market and higher investment banking fees.