Goldman Sachs reports quarterly EPS of $4.57, ahead of analysts' forecasts

Shares of Goldman Sachs were moving lower before the start of trading despite the company saying third-quarter profits surged from $1.5bn to $2.2bn.

Earnings per share jumped from $2.88 to $4.57, well ahead of the $3.21 expected by analysts thanks to a strong showing by its fixed-income, currencies and commodities (FICC) trading operations. The group also lifted its quarterly dividend by five cents to 60 cents a share.

As of 13:56 shares of the bank could be seen down by 3.52% at $171.