Goldman Scores a Win With Sharply Higher Earnings

Goldman Sachs reported sharply greater earnings for the fourth quarter, giving the Wall Street Goliath a lift after a run of lackluster outcomes.

Profit was up 51%, a welcome change after eight quarters of declines. But the energy wasn’t in Goldman’s conventional powerhouses, funding banking and buying and selling. Instead, it was asset and wealth administration, the place Goldman Chief Executive David Solomon has pinned a lot of its hopes. The unit reported a 23% bounce in income, whereas income from each funding banking and buying and selling had been down.