Goldman Sachs Group Inc (NYSE:GS) is trading lower Tuesday morning after the company announced worse-than-expected fourth-quarter earnings results.
Goldman Sachs reported quarterly earnings of $10.81 per share, which came in below the estimate of $11.73 per share. The company reported quarterly revenue of $12.64 billion, which beat the estimate of $12.01 billion.
Goldman Sachs said fourth-quarter investment banking revenue totaled $3.8 billion, representing an increase of 45% year-over-year. The company reported quarterly global markets revenue of $3.99 billion, which was down 7% year-over-year.
"The firm’s extraordinary performance is a testament to the strength of our client franchise and people. Moving forward, our leadership team remains committed to growing Goldman Sachs, diversifying our businesses and delivering strong returns for shareholders," said David Soloman, chairman and CEO of Goldman Sachs.
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GS Price Action: Goldman Sachs has traded as low as $270.62 and as high as $426.15 over a 52-week period.
The stock was down 4.19% at $364.99 at time of publication.
