Goldman FICC business slides, but beats estimates

|About: Goldman Sachs Group Inc. (GS)|By:, SA News Editor

Institutional Client Services revenue of $3.41N is off 22% from a year ago, but gained 19% from Q3. FICC revenue of $1.72B is off 15% Y/Y (consensus was for a 23% decline). Company notes an improvement from Q3, but "economic uncertainty persisted and levels of activity generally remained low." Equity revenue of $1.68B fell 27% Y/Y after the sale of Goldman's Americas insurance unit.

Investing & Lending revenue of $2.06B is up 4% from a year ago.

Investment Management revenue of $1.6B is up 5% Y/Y.

Operating expenses of $5.23B fall 6% Y/Y, with compensation expense of $2.189B off 11%.

The bank's ROE jumps to 12.7% from 8.1% in Q3.

Repurchases of 39.3M shares during 2013 at an average price of $157.11. 8.5M shares bought back in Q4 at average price of $164.90. Remaining authorization is for 57.2M shares.

GS +0.4% premarket

CC at 9:30 ET