Goldman Sachs reported a strong fourth-quarter profit and record annual revenue in investment banking and markets. Profit increased by 12% to $4.62 billion, with revenue falling 3% to $13.45 billion. Morgan Stanley also reported better-than-expected profit and revenue, with a 47% jump in investment banking revenue. Wall Street’s engines continue to gain momentum, gearing up for a potential record year for IPOs and dealmaking. Trading revenue at Goldman was up 19% in the fourth quarter, with record revenues from equities and FICC financing. Banks are bracing for a surge in mergers and acquisitions, with global activity up 44% in 2025.

Read more at Yahoo Finance: Goldman Sachs Profit Rises on Jump in Dealmaking and Lending