By Saeed Azhar, Manya Saini and Noor Zainab Hussain NEW YORK (Reuters) -Goldman Sachs beat Wall Street estimates and earned its biggest quarterly profit in more than three years as its investment bankers brought in more deal fees,

Goldman Sachs drove $7.73 billion of investment banking revenue in 2024, up 24% from a year earlier, thanks to significantly higher revenue from debt underwriting—primarily from leveraged finance activity—and,

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.

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 Sachs shares gained in premarket trading Wednesday after the bank reported better-than-expected fourth-quarter results.