Goldman Sachs Surpasses Earnings Projections with Strong Stock Trading Performance

Goldman Sachs reported a fourth quarter profit that surpassed expectations, with its equity traders benefiting from a market rebound and revenue from asset and wealth management increasing. The bank is focusing on its core dealmaking and trading businesses, and its CEO expressed optimism about the capital markets activity. Despite a decline in investment banking fees and fixed income trading revenue, the bank's overall profit rose, driven by strong performance in equity trading and platform solutions. Goldman is also streamlining its consumer business and reducing costs, while maintaining a cautious approach to expenses and reviewing non-compensation costs.