Goldman Sachs reported third quarter earnings that surpassed analysts’ expectations, as the ban experienced a solid growth in investment banking and capital markets revenues.
Goldman’s earnings for the three months ending in September surged +55% from the year-ago quarter to $14.93 per share, crushing the Street consensus forecast of $10.11 per share.
Revenues rose more than +26% to $13.61 billion, ahead of analysts' forecasts of $11.67 billion.
Investment banking revenues were up +88% year-over-year to $3.7 billion, while overall capital markets revenues rose +23% to $5.61 billion.
“The third quarter saw strong operating performance and an acceleration of our investment in the growth of Goldman Sachs," said CEO David Solomon. "We announced two strategic acquisitions in our Asset Management and Consumer businesses which will enhance our scale and ability to drive higher, more durable returns."