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Goldman Sachs sold its entire stake in ride-hailing giant Uber in the fourth quarter, according to a person with direct knowledge of the move.
The sale, which likely resulted in a large gain for the early investor in Uber, helped New York-based Goldman beat analysts’ expectations for revenue in the period.
It couldn’t be immediately determined why the bank sold its stake. In the past, Goldman’s public and private holdings in companies from Uber to WeWork have caused volatility in quarterly results, and the firm recently changed its reporting segments to move those activities to its asset management division.
This article was originally published by Cnbc.com. Read the original article here.