NEW YORK, Jan. 16 (Xinhua) -- Goldman Sachs registered a better- than-expected fourth-quarter profit Wednesday, boosted by robust investment banking business.
The bank giant earned 5.60 U.S. dollars per share after paying preferred dividends in the fourth quarter, over three times as much as 1.84 dollars for the fourth quarter of 2011. Revenue for the fourth quarter came in at 9.24 billion dollars, also tipping market estimates.
For 2012, the bank posted net revenues of 34.16 billion dollars and net earnings of 7.48 billion dollars. Diluted earnings per common share were 14.13 dollars in 2012, tripling compared with the previous year.
The upbeat earnings were partly attributed to good performing in the bank's debt underwriting business. Debt underwriting produced net revenues of 1.96 billion dollars, the highest level since 2007.
The company ranked first in worldwide equity and equity-related offerings and common stock offerings for 2012, continuing its leadership in investment banking.
"While economic conditions remained challenging for much of the last year, the strengths of our business model and client franchise, coupled with our focus on disciplined management, delivered solid performance for our shareholders," media quoted Goldman's CEO Lloyd C. Blankfein as saying Wednesday.
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