Financial Modeling Prep·2026-01-15 19:58Core Insights - Goldman Sachs reported a decline in fourth-quarter net revenues, but earnings exceeded analyst expectations, with shares down over 1% in pre-market trading [1] - The decline in revenues was attributed to a markdown related to the transfer of Apple's credit-card program to JPMorgan Chase, which was offset by a $2.48 billion reduction in provisions for credit losses, contributing a net $2.12 billion boost to earnings [1] Financial Performance - The global banking and markets division showed strength, with trading activity boosted by volatile market conditions in 2025, influenced by U.S. trade policy shifts and concerns over AI-related equity valuations [2] - Equities trading revenue increased by 25% year over year to $4.31 billion, while fixed income, currencies, and commodities revenue rose by 12% to $3.11 billion, driven by demand for interest rate and commodities products [2] - Investment banking fees grew by 25% to $2.58 billion, reflecting stronger advisory activity amid high merger and acquisition volumes despite ongoing market uncertainty [3] - Overall group-wide net revenues decreased by 3% to $13.45 billion, with earnings per share reported at $14.01, significantly above analyst expectations of $11.48 [3]