Good news for Wall Street: Goldman Sachs and Citigroup close the fourth quarter with earnings growth higher than expected.
In particular, Goldman Sachs reported profits of $2,347 billion ($5,08 per share) during the period compared with $765 million ($1,27 per share) recorded in the same period last year, when the Bank reached a five-billion-dollar settlement dollars with the US authorities on the unfair practices linked to subprime mortgages which gave rise to the 2008 crisis (excluding the agreement, the figure would have been 4,68 dollars per share).
Revenue rose from $7,27 billion to $8,17 billion. Analysts were expecting earnings of $4,82 per share on $7,72 billion in business. For the full year, the company reported net income of $7,4 billion on revenue of $30,61 billion. Trading activities went particularly well.
Also Citigroup in the fourth quarter it saw profits climb and exceeded analysts' forecasts thanks to trading activities. In the three months to December, the institution posted net income of $3,573 billion ($1,14 per share), up 7% from $3,335 billion ($1,02 per share) in the same period in the previous year. last year. Revenue fell 8% from $18,456 billion to $17,012 billion. Analysts were expecting profits of $1,12 per share on $17,3 billion in business.
For the full year, profit was 14,912 billion dollars, down 14% from 17,242 billion in 2015, while turnover fell 8% to 69,857 billion.
