Mortgage

Goldman Sachs’ revenue drops to $7.69 billion in 4Q

Still beats estimates

The Goldman Sachs Group (GS) posted fourth-quarter net revenues of $7.69 billion, down from $8.39 billion last quarter and $8.78 billion a year ago. Diluted earnings per common share slightly dipped to $4.38, compared to $4.60 for the fourth quarter of 2013 and $4.57 for the third quarter of 2014.

For the year, the bank reported net revenues of $34.53 billion and net earnings of $8.48 billion. Diluted earnings per common share were $17.07 compared with $15.46 for the year.

Earnings per share beat estimates by $0.06, while revenue beat by $50 million.

“We are pleased with our performance during a year characterized by mixed global economic and financial conditions,” said Lloyd Blankfein, chairman and CEO.

“The depth of our global client franchise and our continued discipline on expenses and capital management produced a solid return for our shareholders. Looking ahead, we see evidence of a continued pick up in momentum for the global economy that will improve the opportunity set for 2015," Blankfein said.

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