Dealmaking Still Slow For Goldman Sachs

Dealmaking was still slow for Goldman Sachs in 4Q, but the investment bank was lifted by better results in asset and wealth management. Net revenues in Global Banking & Markets were $6.35 billion for 4Q, 3% lower than a year ago, and 21% lower than the prior quarter. Investment banking fees were $1.65 billion, 12% lower the year-ago period reflecting a decline in industry-wide mergers and acquisitions, which was partially offset by higher revenue from debt and equity underwriting, the investment bank says. Still, Goldman’s overall top-line results were buoyed by improvements in asset and wealth management, where revenue was up 23% from a year ago and 36% from the prior quarter. Shares rise 1.3% to $382.70 pre-market.

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