Goldman Sachs beats expectations in Q3 earnings
US investment bank Goldman Sachs reported third quarter earnings on Tuesday which were above analyst estimates.
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Earnings per share came out at $4.88 on revenue of $8.17bn for the quarter, beating expectations of $3.82 per share and $7.41bn respectively.
In the corresponding quarter last year, the New York-based firm reported earnings per share of $2.90 per share and revenue of $6.86bn.
Net earnings rose to $2.09bn from $1.4bn the previous year.
Assets under supervision rose to a record $1.35trn from $1.18trn.
Many of the US's biggest financial institutions have reported promising results in the current season, including JPMorgan Chase, Citigroup and Bank of America.
"We saw solid performance across the franchise that helped counter typical seasonal weakness," Goldman CEO Lloyd Blankfein said in a statement.
"We continue to manage our balance sheet conservatively and are benefiting from the breadth of our offerings to clients."
Shares of the bank are up 14% since the end of the second quarter but are still down 6.2% for the year as a whole.