Goldman Sachs Group Inc., the fifth-biggest U.S. bank by assets, said quarterly profit almost tripled as gains in the value of the firm’s own investments contributed to the first year of revenue growth since 2009.
Fourth-quarter net income surged to $2.89 billion from $1.01 billion a year earlier, according to a statement Wednesday from the New York-based firm. Earnings for common shareholders, which include the cost of preferred stock dividends, rose to $2.83 billion, or $5.60 a share, from $978 million, or $1.84. The average estimate of 26 analysts surveyed by Bloomberg was for $3.66 a share, with predictions ranging from $2.56 to $4.80.
