Goldman Sachs profit surges on M&A, trading boost

FILE PHOTO: A sign is displayed in the reception of Goldman Sachs in Sydney, Australia, May 18, 2016. REUTERS/David Gray/File Photo

(Reuters) – Goldman Sachs Group Inc reported a 153% jump in fourth-quarter profit on Tuesday, powered by another blowout performance at its core bond trading and underwriting business and an uptick in merger and acquisition activity.

The bank’s net earnings applicable to common shareholders rose to $4.36 billion in the quarter ended Dec. 31 from $1.72 billion a year ago. Earnings per share rose to $12.08 from $4.69 a year earlier.

Analysts had expected a profit of $7.47 per share on average, according to the IBES estimate from Refinitiv.

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