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[BUSINESS] · United States · 22 sources

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Goldman Sachs reports strong Q3 earnings driven by equities trading

Goldman Sachs reported strong third-quarter financial results, characterized by a significant surge in equities trading and investment banking activity. The firm's net revenue reached approximately $18.68 billion, representing a 23% increase compared to the same period last year. Net profit for the quarter was reported at approximately $5.3 billion, with diluted earnings per share reaching $17.01.

A primary driver of this growth was the equities trading division, which saw revenues jump 72% to $6.44 billion, significantly exceeding market expectations. Conversely, the fixed-income, currencies, and commodities (FICC) segment experienced a slight decline, with revenues falling approximately 1% to $3.47 billion, aligning with previous warnings regarding market volatility and interest rate pressures.

Investment banking also showed resilience, with fees rising 21% to $3.22 billion. In response to the positive performance, Goldman Sachs declared a quarterly dividend of $5 per share. Additionally, the bank upgraded its three-month outlook for global equities from neutral to overweight, citing attractive valuations and resilient corporate earnings as key opportunities for investors.

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Bank of America · Barclays · Bloomberg Intelligence · Christian Mueller-Glissmann · David Solomon · FactSet · Federal Reserve · Goldman Sachs · JPMorgan Chase · S&P 500 · Wall Street

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