Goldman Sachs Group outperformed expectations in its fourth-quarter and full-year earnings with a robust financial showing across all segments.

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 posted its best profit since the third quarter of 2021, driven by bankers who brought in more fees from dealmaking, debt sales and strength in trading, sending its shares up 3% before the bell.

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’s asset and wealth management division posted an 8% revenue increase to $4.72 billion, while its global banking and markets division saw a 33% jump to $8.48 billion in Q4.

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

Goldman Sachs enjoyed a robust final quarter of 2024, boosted by its Global Banking and Market unit. Your complimentary guest account includes access to a limited number of articles.