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Goldman Sachs reports third-quarter earnings before the bell
Goldman Sachs on Tuesday beat estimates for third quarter results on stronger-than-expected investment banking and fixed income trading.
The company said in a release that profit surged 37% from a year earlier to $4.1 billion, or $12.25 a share. Revenue rose 20% to $15.18 billion.
Trading desks across Wall Street have benefited as President Donald Trump's tariff policies have roiled markets for bonds, currencies, commodities and stocks. Investment banking activity including mergers and IPOs has also gained steam, with revenue climbing 22% in the third quarter, per Dealogic.
Goldman Sachs gets the majority of its revenue from Wall Street activities including trading and investment banking.
Investment banking was the engine for Goldman's beat this quarter, with fees jumping 42% to $2.66 billion, or roughly $500 million more than what analysts surveyed by StreetAccount had expected. The bank cited more completed mergers and debt underwriting deals for the revenue increase.
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