Goldman Sachs Group Inc (NYSE:GS) has released its earnings report for the fourth quarter of 2016.
Goldman Sachs Group Inc reported revenue of $8.17 billion for the fourth quarter of the year. This is an increase over its revenue of $7.27 billion from the fourth quarter of 2015. It also came in above Wall Street’s revenue estimate of $7.72 billion for the quarter.
Earnings per share reported by Goldman Sachs Group Inc for the fourth quarter of 2016 was $5.08. GS reported earnings per share of $1.27 during the same period of the year prior. Analysts were expecting the company to report earnings per share of $4.82 for the fourth quarter of the year.
Goldman Sachs Group Inc reported net income of $2.35 billion during the fourth quarter of the year. The finance company reported net income of $765 million during the same time last year.
Goldman Sachs Group Inc has also announced a dividend that will be paid to shareholders on March 30, 2017. The dividend is 65 cents per share and it will be paid to investors that are on record as of March 2, 2017.
“After a challenging first half, the firm performed well for the remainder of the year as the operating environment improved,” Lloyd C. Blankfein, Chairman and CEO of Goldman Sachs Group Inc, said in a statement. “We continued to manage our expenses carefully and we enter the new year with industry leading positions across our businesses, as well as strong capital and liquidity.”
GS stock was largely unmoved Wednesday morning following the release of the positive earnings report.