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The investment banking giant posted some impressive results.
*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.
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We've now heard from most of the biggest U.S. banks, and it's fair to say that Goldman Sachs (GS +0.00%) was probably the biggest winner.
For one thing, the bank destroyed expectations on both the top and bottom lines. Analysts had been looking for earnings of $7.47 per share, and Goldman reported $12.08 today. On the top line, revenue was forecast to come in just shy of $10 billion, and the bank generated $11.74 billion. In other words, the analysts weren't even close on either end.
Image source: Getty Images.
The headline numbers never tell the whole story, so here's a rundown of some of the other important highlights:
The bottom line is that Goldman Sachs had a fantastic fourth quarter, which is why we're seeing the stock trading higher after the report was released. In fact, aside from a moderate disappointment in fixed-income trading revenue, there isn't much to dislike about the bank's results. If Goldman can keep this momentum up in 2021, it could be a very interesting year for investors.