Goldman Sachs Profit Misses Estimates

Goldman Sachs Group Inc. has released its financial results for the last quarter of 2021.

The bank said operating expenses reached 23% in 2021, the highest since 2007.

Earnings per share for the fourth quarter were $10.81, and expectations were for $11.77. Thus, Goldman Sachs profits fell 13% to $3.94 billion.

Investment banking revenue rose 45% to $3.8 billion, as demand for mergers and acquisitions continued to recover.

Goldman Sachs in the fourth quarter of the last year made $ 12,640 million, which is higher than expectations of $ 12,100 million.

Goldman Sachs shares fell 2.5% in pre-opening trading after announcing its financial results.

Bank earnings have been hurt this quarter by weak trading volumes as the Federal Reserve slowed the pace of its asset purchases after an 18-month period in which it pumped liquidity into capital markets to ease the impact of the COVID-19 pandemic.