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 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.

Morgan Stanley’s institutional securities group, which houses its investment banking and trading businesses, reported revenue of $7.3 billion in the fourth quarter, a 49% jump from $4.9 billion a year earlier.