NEW YORK (AP) — A surging stock market and a flurry of deal making padded the profits of Wall Street's two big investment banks, which both saw a double-digit jump in profits in the fourth quarter. Goldman Sachs's net earnings rose 12% from a year earlier, posting a profit of $4.62 billion, or $14.01 a share. Meanwhile Morgan Stanley said it earned $4.4 billion, or $2.68 per share, compared to a profit of $3.71 billion, or $2.22 per share, compared to a year earlier. Wall Street has been bolstered by th ...

来源：环球市场播报 2025 年大部分时间里，华尔街都被交易热潮席卷，但到了四季度，部分投行竞争对手的交易业务活跃 度有所回落。 2025 年四季度，华尔街的交易热潮丝毫未冲淡高盛（GS）与摩根士丹利（MS）的业务增长势头，两家 投行均为投行业务自疫情以来表现最强劲的年份之一收官。 高盛公布，四季度净利润达 46 亿美元，摊薄后每股收益为 14.01 美元，同比增长 12%。摩根士丹利四 季度净利润同比增长 18%，达到 44 亿美元，这一增长得益于其交易业务收入飙升 47%。 对这两家华尔街投行而言，2025 年是丰收之年。 高盛不仅摆脱了苹果联名信用卡业务的困扰，股票交易手续费收入更是创下历史新高。高盛市场业务板 块的手续费收入同比增长 23%，全年总交易额较 2024 年增长 16%。 高盛全年利润、交易手续费及净营收均攀升至历史第二高的水平，仅次于 2021 年的业务繁荣期。 高盛的并购咨询核心业务表现亮眼，四季度收入同比增长 41%，达到 13.6 亿美元，这一数据基本符合 分析师预期。同期，该投行股票交易手续费收入增长 25%，达到 43 亿美元。 高盛首席执行官戴维・所罗门在周四的分析师会议上表 ...

Core Viewpoint - Goldman Sachs has seen a significant increase in its consensus price target over the past year, indicating growing confidence among analysts regarding the company's future performance [2][4][6] Price Target Trends - The average price target for Goldman Sachs rose from $758.76 a year ago to $874.33 last month, reflecting a strong positive shift in analyst expectations [4][2] - Three months ago, the average price target was $832.56, showing a consistent upward trend in analyst sentiment [3][6] Financial Performance Expectations - Analysts expect Goldman Sachs to report earnings per share of $11.67 and revenue of $13.79 billion, contributing to the positive outlook for the company [3] - The increase in price targets is attributed to the bank's performance across various segments and heightened demand for loans, which has positively impacted profits [4][5] Investor Sentiment - The upward trend in consensus price targets suggests that investors are increasingly confident in Goldman Sachs' ability to deliver shareholder value [5][6] - Upcoming earnings reports and company announcements are anticipated to further influence analyst opinions and price targets [5]

Group 1 - The core viewpoint of the article highlights a significant surge in technology stocks, particularly in the semiconductor sector, driven by strong earnings from TSMC, which reported a 35% year-on-year profit increase, boosting investor confidence in AI themes [2][13] - TSMC's stock rose over 6%, reaching a historic high, with a total market capitalization exceeding $1.8 trillion, surpassing Broadcom to become the sixth largest in the U.S. stock market [2] - The Philadelphia Semiconductor Index experienced a substantial increase of 3%, reflecting the overall positive sentiment in the semiconductor sector [2] Group 2 - Other semiconductor companies also saw gains, with ASML rising approximately 6%, Micron Technology and Broadcom increasing around 3% each, indicating a broad rally in the sector [2] - The market is also reacting to a recent announcement by former President Trump regarding a 25% tariff on certain semiconductors, although this does not apply to chips imported for building the U.S. technology supply chain [5] - Financial stocks also performed well, with Morgan Stanley and Goldman Sachs reporting better-than-expected fourth-quarter earnings, leading to stock increases of over 4% and 3%, respectively [5]

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, ...

Goldman Sachs headquarters in New York. - Timothy Mulcare for WSJ Goldman Sachs reported a stronger-than-expected profit in the fourth quarter and record annual revenue in the bank’s investment banking and markets division last year as companies struck more deals and borrowed at a record clip. The Wall Street giant’s profit increased 12% to $4.62 billion in the quarter. That amounted to $14.01 a share. Most Read from The Wall Street Journal Revenue fell 3% to $13.45 billion, in part because of a one- ...

The Goldman Sachs Group (NYSE:GS) Q4 2025 Earnings call January 15, 2026 09:30 AM ET Company ParticipantsEbrahim Poonawala - Head of North American Banks ResearchBetsy Graseck - Global Head of BanksMatthew O'Connor - Managing DirectorDavid Solomon - Chairman and CEOSteven Chubak - Managing DirectorDenis Coleman - CFOChristopher McGratty - Head of U.S. Bank ResearchConference Call ParticipantsDan Fannon - Research AnalystErika Najarian - Equity Research AnalystGerard Cassidy - Head of U.S. Bank Equity Strate ...

The Goldman Sachs Group (NYSE:GS) Q4 2025 Earnings call January 15, 2026 09:30 AM ET Company ParticipantsEbrahim Poonawala - Head of North American Banks ResearchBetsy Graseck - Global Head of BanksMatthew O'Connor - Managing DirectorDavid Solomon - Chairman and CEOSteven Chubak - Managing DirectorDenis Coleman - CFOSaul Martinez - Head of U.S. Financials ResearchChristopher McGratty - Head of U.S. Bank ResearchConference Call ParticipantsDan Fannon - Research AnalystErika Najarian - Equity Research Analyst ...

Goldman Sachs (GS) reported $13.45 billion in revenue for the quarter ended December 2025, representing a year-over-year decline of 3%. EPS of $14.01 for the same period compares to $11.95 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $13.61 billion, representing a surprise of -1.14%. The company has not delivered EPS surprise, with the consensus EPS estimate being $11.77.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how ...

The Goldman Sachs Group (NYSE:GS) Q4 2025 Earnings call January 15, 2026 09:30 AM ET Speaker0Good morning. My name is Katie Annale, your conference facilitator today. I would like to welcome everyone to the Goldman Sachs Fourth Quarter 2025 earnings conference call. On behalf of Goldman Sachs, I will begin the call with the following disclaimer. The earnings presentation can be found on the investor relations page of the Goldman Sachs website and contains information on forward-looking statements and non-GA ...