Goldman Sachs shares gained in premarket trading Wednesday after the bank reported better-than-expected fourth-quarter results.

Goldman Sachs said its profit more than doubled in the fourth quarter, boosted by companies’ growing appetite for dealmaking. Profit jumped 105% to $4.11 billion. That amounted to $11.95 per share, which was far better than the $8.

Goldman Sachs reported 26 per cent growth in total investment banking revenue globally at $86.8 billion in 2024

Big bank profits surged in the fourth quarter and Wall Street roared back to life, with net income rising 50% at JPMorgan Chase and more than doubling at Goldman Sachs.

Goldman Sachs reported on Wednesday higher fourth-quarter profit above market estimates, powered by strong growth in revenues, especially in investment banking fees. For the quarter, net earnings applicable to common shareholders surged 110% to $3.

Goldman Sachs ( NYSE: GS) stock rose 2.2% in Wednesday premarket trading after the Wall Street stalwart posted strong Q4 and full-year earnings, bolstered by solid net interest income, rebounding investment banking fees, and robust growth in its asset and wealth management businesses.

Goldman Sachs posted its biggest profit since the third quarter of 2021 to beat Wall Street expectations, driven by bankers who brought in more fees from dealmaking, debt sales and strength in trading.

JPMorgan, Wells Fargo, Goldman Sachs and Citi kicked off earnings season on Wednesday with their December-quarter results.