Goldman Sachs profit nearly doubles on trading surge
The bank’s net earnings applicable to common shareholders surged to $3.5 billion in the quarter ended Sept. 30 from $1.8 billion a year ago
The bank’s net earnings applicable to common shareholders surged to $3.5 billion in the quarter ended Sept. 30 from $1.8 billion a year ago Photo: Reuters
Goldman Sachs Group Inc reported a 94% rise in quarterly profit on Wednesday, driven by a resurgence in deal-making and continued strength in its trading and underwriting businesses.
The bank's net earnings applicable to common shareholders surged to $3.5 billion in the quarter ended Sept. 30 from $1.8 billion a year ago. Earnings per share doubled to $9.68 from $4.79 a year earlier.
Analysts had expected a profit of $5.57 per share, on average, according to the IBES estimate from Refinitiv. It was not immediately clear if the figures were comparable.
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The article originally appeared on Reuters.
