Goldman Sachs’ profits more than double, despite pandemic [Advisor.ca (Canada)]
Wells Fargo & Company (WFC)
Last wells fargo & company earnings: 4/14 07:46 am
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Source: Advisor.ca
© langstrup / 123RF Stock PhotoGoldman Sachs said its profits more than doubled from a year earlier thanks to a surge in both trading and advising revenue.The New York-based investment bank said it earned a profit of $4.36 billion, or $12.08 per share, up from a profit of $1.72 billion, or $4.69 a share, in the same period a year earlier. The earnings were significantly better than the $7.45-per-share profit that analysts were expecting.Goldman’s results reflect that Wall Street had a strong year, despite the pandemic and millions of Americans out of work. After plunging sharply in March and April, the stock market went basically straight up for seven months as investors tried to look beyond the near-term death and pain and focus on where the U.S. economy will be in a year or two years’ time.Goldman’s profits were driven higher by its investment bank and trading desks, the cornerstone to the bank’s business models. Investment banking revenue was up 29% from a year earlier to $2.73 bil
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- 4/26/24 - Form 424B2
- 4/26/24 - Form 424B2
- WFC's page on the SEC website