Goldman tops Street 4Q forecasts

Markets Associated Press

FILE - In this Oct. 16, 2014, file photo, a screen at a trading post on the floor of the New York Stock Exchange is juxtaposed with the Goldman Sachs booth. Goldman Sachs reports financial results on Wednesday, Jan. 18, 2017. (AP Photo/Richard Drew, ... File) (The Associated Press)

Goldman Sachs Group Inc. (GS) on Wednesday reported fourth-quarter net income of $2.35 billion.

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The company, based in New York, said it had earnings of $5.08 per share.

The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $4.76 per share.

The investment bank posted revenue of $8.17 billion in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $7.43 billion.

For the year, the company reported profit of $7.4 billion, or $16.29 per share. Revenue was reported as $30.61 billion.

Goldman shares have declined 1.5 percent since the beginning of the year, while the Standard & Poor's 500 index has risen slightly more than 1 percent. The stock has climbed 46 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GS at https://www.zacks.com/ap/GS

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Keywords: Goldman Sachs, Earnings Report, Priority Earnings