Goldman Sachs earnings for the fourth quarter of 2018 has GS stock on the rise today.
Goldman Sachs (NYSE:GS) starts off its earnings report for the fourth quarter of 2018 with earnings per share of $6.04. This is much better than the company’s losses per share of $5.51 from the fourth quarter of 2017. It is also a blessing to GS stock by coming in above Wall Street’s earnings per share estimate of $5.61 for the period.
Goldman Sachs earnings for the fourth quarter of the year also includes net income of $2.54 billion. The banking company’s net loss from the same period of the year prior was $1.93 billion.
Revenue reported in the Goldman Sachs earnings report for the fourth quarter of 2018 came in at $8.08 billion. This is a drop from the company’s revenue of $8.12 billion reported in the fourth quarter of the previous year. However, it was still a win for GS stock by beating out analysts’ revenue estimate of $7.78 billion for the quarter.
The most recent Goldman Sachs earnings report also includes its results for the full year of 2018. The company reported earnings per share of $25.27 on revenue of $36.62 billion. The company’s earnings per share and revenue for the previous year was $9.01 and $32.73 billion. This is a boon to GS stock as Wall Street was looking for earnings per share of $24.86 on revenue of $35.87 billion for the full year of 2018.
GS stock was up 8% as of Wednesday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.
