Goldman Sachs reported its Q4 2021 earnings with mixed results – EPS came at $10.81/share, missing the $11.76 estimate with earnings of $3.94bn, down 13% YoY. Revenues however climbed 8% YoY to $12.6bn vs. estimates of $12.1bn. Its operating expenses jumped 23% due to $7.3bn compensation and benefits expenses besides technology expenses, professional fees and transaction based expenses. Its Global Market revenues fell 7% YoY to $3.99bn with FICC unchanged at $1.9bn while Equities were down 11% to $2.1bn. Its Investment Banking revenues were at $3.80bn, up 45% YoY with a significant increase in completed M&A volumes. The bank’s CET1 ratio stood at 14.2%, up 10bp QoQ.
Goldman Sachs’ bonds were lower with its 4% Perp down 1.3 points to 95.3, yielding 4.2%.