21 Hrs
Source:
الاقتصادية
Goldman Sachs exceeds profit forecasts due to stock trading
Reports indicate that Goldman Sachs surpassed third-quarter profit expectations for 2026, fueled by a strong equity trading revenue that increased by 72% year-on-year due to market volatility stemming from the Middle East conflict. The bank posted a net profit of $5.29 billion, or $17.01 per share, exceeding analysts' forecast of $13.02 per share. Equity trading revenues rose to $6.44 billion. Although revenues from fixed income, currencies, and commodities declined slightly by 1%, investment banking services saw a 21% increase in fees, while asset and wealth management revenues grew by 14%. The results highlight the continued strength of trading activities and investment banking services, despite mixed performance in other sectors. Discussions are ongoing regarding the successor to CEO Solomon, amidst expectations that the bank will continue to strengthen its strategy, focusing on equity trading and institutional services.
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