Goldman Sachs delivered a strong fourth quarter of 2024 with net revenues of $32.24 billion, GAAP earnings per share of $12.17 (diluted $11.95), and a 14.6% ROE. Full-year 2024 revenue rose 16% to $53.5 billion, with EPS up 77% to $40.54 and ROE improving to 12.7%. The results reflect a durable revenue base, led by Asset & Wealth Management (AWM) and Global Banking & Markets (GBM), and a multi-year execution plan that diversifies away from legacy risk and concentrates on two core platforms: Global Banking & Markets and Asset & Wealth Management. Management highlighted continued momentum in deal activity, steady fundraising in alternatives, and a three-year efficiency program aimed at reducing the cost base while investing in technology and client experience. A notable feature of 2024 is the drag from Platform Solutions (e.g., Apple Card) on ROE, which management expects to abate in 2025–2026 as the platform approaches breakeven profitability. The firm remains capital-rich (CET1 ~15%), with ample flexibility to deploy capital and increase shareholder value, while maintaining a ~130 bps cushion above regulatory minimums. Looking ahead, management views 2025 as a constructive year for dealmaking (M&A and IPO activity) with a continued focus on cross-franchise growth, efficiency, and risk management to support mid-teens through-the-cycle returns.