Goldman Sachs reported an increase in earnings for the fourth quarter, however for the year overall, its investing and lending took a hit.
The company reported net revenues today of $8.17 billion, up only slightly from the third quarter’s $8.168 billion, but up 12% from $7.27 billion in the fourth quarter of 2015.
Its investing and lending sector increased 6% from the third quarter to $1.48 billion, an increase from $1.4 billion. It is also up 15% from last year’s $1.3 billion. For the year overall, however, the numbers are not as positive. In fact, Goldman Sachs reported a decreased of 25% from 2015’s $5.4 billion to 2016’s $4.1 billion.
The company’s diluted earnings per common share came in at $5.08, up considerably from last year’s $1.27 and the third quarter’s $4.88 per share. The annualized return on equity was 11.4% for the fourth quarter.
Net interest income, on the other hand, decreased 45% from the third quarter’s $614 million and 52% from last year’s $700 million to a mere $336 million in the third quarter.
