Goldman Sachs Posts Worst Annual Profit In 4 Years—Here's Why

ToplineGoldman Sachs topped expectations in its quarterly earnings report Tuesday, sending its shares rallying to a near 12-month high, but a slump in the company’s core investment banking unit, generally blamed on the year’s interest rate hikes, continued to rear its ugly head amid a cyclical downturn in dealmaking activity.Goldman Sachs CEO David Solomon speaks during the 2023 Forbes Iconoclast Summit.Getty Images Key FactsGoldman reported $11.32 billion of sales and $5.48 earnings per share in the fourth ...