Mubasher: Goldman Sachs on Wednesday posted a year-on-year profit in the fourth quarter of 2018, while its revenues from its investment banking and investing and lending divisions came better than expected.

The bank’s net income was $2.53 billion in Q4-18, compared with a loss of $1.92 billion in Q4-17. Diluted earnings per share (EPS) came in at $6.04 during the reported quarter.

Goldman generated $8.08 billion in net revenues in the three-month period ended last December, compared with $8.12 billion in the same period of the preceding year.

Investment banking division’s revenue were 5% lower year-on-year at $2.04 billion between October and December 2018, compared with an estimated $1.88 billion expected by analysts surveyed by Refinitiv.

Moreover, the investing and lending segment generated $1.91 billion in the last three months of 2018, which was 2% lower than the same three months of the prior year, but $550 million higher than a projected $1.35 billion.

The US lender’s net income was $10.4 billion last year, compared with $4.28 billion in the previous year, while net revenues rose to $36.6 billion from $32.7 billion.