Goldman Sachs (NYSE:GS) delivered stronger-than-expected third-quarter earnings on Tuesday, though its stock dipped slightly in premarket trading despite the upbeat results.
The investment banking powerhouse reported earnings per share of $12.25 for the quarter, topping analyst expectations of $11.02. Total revenue reached $15.18 billion — a 20% increase compared with the same period last year — and exceeded the market’s forecast of $14.13 billion.
Global Banking & Markets, the firm’s largest division, generated $10.12 billion in net revenue, up 18% year-over-year. Investment banking fees climbed 42% to $2.66 billion, fueled by a sharp rise in completed M&A deals and stronger activity in leveraged finance.
The Asset & Wealth Management unit contributed $4.40 billion in net revenue, marking a 17% annual increase, while Platform Solutions surged 71% to $670 million.
Goldman posted a 14.2% annualized return on average common equity for the quarter, while book value per share increased by 1.2%.
Goldman Sachs Group stock price
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