Goldman Sachs reported a jump in fourth-quarter profits Tuesday as a surge in revenues for equity trading offset weaknesses in other areas, including merger advising revenues.

The New York investment bank reported profits of $1.9 billion, up 58 percent from the year-ago period. Revenues rose seven percent to $11.3 billion.

Goldman Sachs' revenues tied to equity trading surged 26 percent in the quarter, while the banks own holdings in public equities also enjoyed a hefty increase during a heady period for US stocks.

Those two line-items made up for drops in merger advisory revenues, revenues tied to fixed income, currency and commodity trading and the drag from a one-time charge to replenish the Federal Deposit Insurance Corporation's emergency fund after last year's emergency actions in response to a crisis hitting midsized lenders.

In Goldman's case, this fee came to $529 million.

Results were also dented by $577 million in provisions for credit losses in part from problem credit card loans.

Goldman Sachs Chief Executive David Solomon described the bank's strategy as clarified after a difficult stretch in 2023. Goldman partners and former CEO Lloyd Blankfein were quoted in prominent news articles criticizing Solomon's leadership style and handling of Goldman's foray into consumer banking, which has now been largely divested.

Solomon described 2023 as a "year of execution," according to a press release.

"With everything we achieved in 2023 coupled with our clear and simplified strategy, we have a much stronger platform for 2024," Solomon said.

Shares of Goldman rose 1.4 percent in pre-market trading.