Impressive Q4 Performance

The Goldman Sachs Group Inc. announced a significant 23% year-over-year increase in its net revenue for the fourth quarter, reaching an impressive $13.8 billion for fiscal 2024. This performance not only surpassed market estimates but also marked a 16% increase in full-year results compared to 2023, totaling $53.51 billion.

Earnings Soar

Diluted earnings per share experienced a remarkable 118% surge to $11.95 in the fourth quarter, with the annual figures for 2024 skyrocketing to $40.54, a 77.26% jump from the previous year. The net earnings for the last quarter stood at $4.11 billion, culminating in a full-year net earnings of $14.28 billion.

CEO's Optimistic Outlook

"I'm encouraged that we have met or exceeded almost all of the targets we set in our strategy to grow the firm five years ago, and as a result, have both grown our revenues by nearly 50% and enhanced the durability of our franchise," stated bank CEO David Solomon, reflecting on the bank's robust performance and strategic achievements.

Market Reaction

Following the announcement, Goldman Sachs' stock saw a 2.15% increase, signaling positive market reception to the bank's strong financial health and future prospects.