Reportedly, Goldman Sachs Group, Inc. (GS) reported their Q3 results, which exceeded analysts’ expectations, as investment banking revenue surged nearly 90%.
Earning Highlights:
- Earnings of $14.93 a share were reported versus $10.18 estimated.
- Revenue of $13.61 billion was reported, a 26% increase versus $11.68 billion estimated.
- Profit at the bank surged 63% to $5.28 billion, or $14.93 a share.
- Goldman exceeded expectations, producing $3.7 billion in investment banking revenue.
- Revenue in the bank’s markets division jumped 23% to $5.61 billion.
- Bond trading revenue of $2 billion exceeded the $1.97 billion estimates, while equities trading of $1.92 billion missed the $2.08 billion estimate.
- Equities financing revenue recorded year over year to a record $1.18 billion, and fixed income financing increased 55% to $513 million.
- The firm’s consumer and wealth management division witnessed a revenue rise of 35% to $2.02 billion, exceeding the $1.79 billion estimate.
The Goldman Sachs Group, Inc. (GS) is one of the world’s leading investment bankers & also a securities and investment management firm that offers a wide range of financial services with a diversified client base. To learn more about The Goldman Sachs Group, Inc. (GS) and to continue to track its progress please visit the Vista Partners Goldman Sachs Group, Inc. (GS), Coverage Page.
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