The net profit of Goldman Sachs Group Inc (NYSE: GS) in October-December amounted to $ 2.347 billion, or $ 5.08 per share, compared with $ 765 million, or $ 1.27 per share, for the same period a year earlier. In the last quarter of 2015 the company was fined by US authorities in the case of the bank's violations in the sale of mortgage bonds on the eve of the 2008 financial crisis. Excluding this fine, the income per share would have been $ 4.68, according to a press release from the bank.
Revenue in the quarter rose 12% to $ 8.17 billion versus $ 7.273 billion in October-December 2015.
Wall Street analysts on average assessed income of the bank at $ 4.82 per share on revenue of $ 7.72 billion.
Goldman Sachs's revenue from operations with assets of fixed income, FX and commodity markets (FICC) soared 78% - to $ 2.002 billion, according to reports. Meanwhile, revenues from share trading decreased by 9.2% and amounted to $ 1.593 billion.
The bank's costs in the last quarter fell 23%, to $ 4.773 billion.
The average return on equity (ROE) remained at around 11.4%.
The volume of assets under management for the year increased by 10% and by the end of 2016 amounted to a record $ 1.379 trillion.
The market value of Goldman Sachs since the presidential election has jumped by 30%, which is the best growth among the 30 companies whose shares are included in the calculation of Dow Jones Industrial Average.
As for Citigroup Inc (NYSE: C), another large Wall Street bank, its net profit in October-December 2016 increased by 7% to $ 3.6 billion, or $ 1.14 per share, compared with $ 3.3 billion, or $ 1.02 per share, for the same period of the previous year, according to a press release from the bank.
Revenue decreased by 8%, to $ 17 billion from $ 18.5 billion a year earlier.
Experts polled by FactSet, expected a net profit of $ 1.12 per share on revenue of $ 17.3 billion on average.
Citigroup operating expenses in the fourth quarter fell 9% to $ 10.1 billion.
Revenue of Citi Holdings division, which includes brokerage services, in October-December fell 79% to $ 657 million, due to the lack of net income from the sale of assets in the last quarter, according to a press release.
At the same time, the division engaged in traditional banking business hap revenue increasing by 6% to $ 16.4 billion.
Citigroup revenues from transactions with shares rose 15%.
As a result the entire 2016 year, net profit decreased by 14% to $ 14.9 billion, and revenues decreased by 8%, to $ 69.9 billion.
Citigroup shares at pre-trading on Wednesday fell 0.9%. Over the past 12 months their value has increased by 37%.