Goldman Sachs rose in pre-market amid huge Q4 earnings beat

Goldman Sachs (GS.US) shares rose 2.4% in pre-market climbing above $308 as the investment bank reported its fourth-quarter earnings before the opening bell. 

Goldman Sachs managed to beat analysts’ expectations as the firm posted profit of $12.08 a share (vs $7.47 a share expected). Revenue came in at $11.74 billion, exceeding the estimate by roughly $1.75 billion (18% higher from a year ago) Earnings were boosted by trading and banking. Net revenues in global markets hit $4.27 billion in the fourth-quarter(+23% YoY). Goldman’s investment bank posted record revenues of $2.61 billion (+27% YoY). 

Goldman Sachs (GS.US) stock has climbed to its all-time highs on rotation trade, which had started in November 2020. Share price soared roughly 60% since then. Stock is expected to start the session above the $308 mark on stronger-than-expected Q4 earnings. Source: xStation5