Goldman Sachs reports 29% profit rise
Goldman Sachs recorded a significant increase in profits during the third quarter of the year, with net earnings reaching $5.29 billion, a 29% year-over-year increase, surpassing analysts’ expectations of $13.50 per share. Total revenues also rose by 23% to $18.7 billion, driven by strong trading and investment banking activities, which generated $9.9 billion—highlighted by a 96% increase in equity financing revenues. Despite an increase in credit loss provisions to $368 million and some loan impairments, the results remain solid, supported by income from advisory and underwriting services, as the market awaits future interest rate costs and their impact on growth.
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