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Goldman Sachs crushes analysts' estimates on strong investment banking and trading results
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cnbc.comIn this article
Goldman Sachs posted Friday third-quarter results that exceeded analysts' expectations, as investment banking revenue surged nearly 90%, and the bank reaped record fees from equities financing.
Here are the numbers:
Profit at the bank surged 63% to $5.28 billion, or $14.93 a share, as revenue climbed 26% to $13.61 billion. Shares of the New York-based bank rose 2.4%.
Goldman — led by CEO David Solomon — has the world's premier investment banking franchise, and analysts had expected strong revenue from booming mergers and IPO activity in the quarter. That theme played out at Wall Street rivals from JPMorgan Chase to Morgan Stanley.
But Goldman exceeded expectations, producing $3.7 billion in investment banking revenue. That's
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