Total revenue, net of interest expense, was $28.4 billion in the fourth quarter, up 7% year-over-year and above Wall Street’s projection. The top line benefited from higher net interest income, asset management fees, and sales and trading revenue.
Net income increased to $7.6 billion in Q4 from $6.8 billion in the prior-year quarter. On a per-share basis, earnings were $0.98, compared to $0.83 in the year-ago quarter. Earnings exceeded analysts’ expectations.
During the quarter, the company returned $8.4 billion to shareholders — $2.1 billion through common stock dividends and $6.3 billion in share repurchases.
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