Goldman Sachs Shatters Profit Records with Dealmaker Surge

Goldman Sachs achieved its highest quarterly profit in over three years, boosted by increased fees from investment banking and heightened market activity. The firm's shares jumped 5% as profits doubled compared to the previous year, fueled by significant growth in debt underwriting and equity trading revenue.

Goldman Sachs has reported its highest quarterly profits in more than three years, shattering Wall Street forecasts. The investment bank's stellar performance was driven by robust dealmaking and increased activity in debt markets, resulting in a significant rise in both investment-banking and trading revenues.

The financial giant's shares soared 5% early on Wednesday as it unveiled a profit of $4.11 billion, or $11.95 per diluted share, for Q4. This is a sharp increase from $2.01 billion, or $5.48 per diluted share, in the same period last year, marking a strong rebound.

Goldman's thriving business environment anticipates continued growth, attributed largely to the Federal Reserve's interest rate cuts and optimism spurred by pro-business statements from the incoming U.S. administration. Investment-banking fees escalated, primarily due to robust debt underwriting and high merger and acquisition activity.

(With inputs from agencies.)