Goldman Sachs Up 6% After Company Beats Earnings Estimates

Shares of Goldman Sachs (NYSE: GS) are up more than 6% after the company reported earnings today.

Fourth quarter net revenues were $6.05 billion and net earnings were $1.01 billion. Diluted earnings per common share were $1.84 compared with $3.79 for the fourth quarter of 2010 and a diluted loss per common share of $0.84 for the third quarter of 2011. Annualized ROE was 5.8% for the fourth quarter of 2011.

“This past year was dominated by global macro-economic concerns which significantly affected our clients' risk tolerance and willingness to transact,” said Lloyd C. Blankfein, Chairman and Chief Executive Officer. “While our results declined as a consequence, I am pleased that the firm retained its industry-leading positions across our global client franchise while prudently managing risk, capital and expenses. As economies and markets improve – and we see encouraging signs of this – Goldman Sachs is very well positioned to perform for our clients and our shareholders.”