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  • Two more big American banks posted results Tuesday that breeze past Wall Street's targets.

  • Goldman Sachs.

  • Quarterly profit more than doubled to $4.4 billion crushing analysts estimates.

  • Goldman did so well it completely absorbed the $3 billion hit to its annual profits stemming from the settlement with regulators over its role in Malaysia's IMDb corruption scandal, in which U.

  • S authorities say about $4.5 billion was siphoned from a Malaysian sovereign wealth fund founded in 2009 by then Malaysian Prime Minister Najib Razak.

  • In its latest quarter, Goldman got a boost from the fees it earned for underwriting high profile I pose like Airbnb and Door Dash that lifted its investment banking revenue 27%.

  • Like other Wall Street banks, it's trading.

  • Revenue also soared as financial market volumes remained high Strengthen The trading business also bolstered Bank of America Ah 7% revenue increase at its sales and trading unit offset a drop in revenue in consumer banking that was partly caused by lower interest rates.

  • Bank of America's profit dropped, but it was bigger than what analysts had forecast.

  • The second largest U.

  • S bank is seen as an economic bellwether.

  • In a sign of confidence in the economic recovery, the bank released $828 million from its credit reserves.

  • Its board also approved a $3.2 billion a share buyback program.

  • Shares of B of and Goldman fell in early trading Tuesday.

Two more big American banks posted results Tuesday that breeze past Wall Street's targets.

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Goldman, BofA profits top estimates

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    林宜悉 posted on 2021/01/19
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