Wednesday, January 16, 2013

Goldman is B-a-a-c-k! Reports strong Q4 results

Yes folks, according to Fiercefinance Goldman is back to being the Goldman of old. It hit on all cylinders in the fourth quarter of 2012, which resulted in a stellar earnings report. The top line result suggests that the bank is getting back to its growth days. Net revenues were $9.2 billion, a 53 percent rise year-over-year. As for earnings, the bank reported $5.60 in diluted earnings per share, which trounced analysts' expectations of about $3.80 a share. The results were solid across the board.

In FICC activity, net revenues were $2.04 billion for, up 50 percent year over year; strong net revenues in credit products and mortgages were offset partly by commodities and interest rate products. In investment banking, net revenues were up 64 percent year over year, powered by strong advisory activity, reflecting more mergers and acquisition activity.  Underwriting was also strong…..

Read more: Goldman Sachs reports strong Q4 results - FierceFinance

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