Goldman Sachs: 45% rise in Q3 profit thanks to bonds

(CercleFinance.com) - Goldman Sachs reported a 45% increase in Q3 net income on Tuesday, in particular thanks to a rebound in the primary bond market amid falling interest rates.


Net income came to $2.99bn, or $8.40 per share, compared with $2.06bn ($5.47 per share) a year earlier.

By way of comparison, analysts were expecting EPS of around $6.90.

Net banking income climbed 7% to $12.7bn, again exceeding consensus expectations of $11.8bn.

The US bank reported a 20% increase in investment banking revenues, to $1.87bn, notably thanks to strong business in the bond issues segment.

Equities trading revenues rose by 18% to some $3.5bn, in particular thanks to brokerage activities in derivatives and cash markets.

In the wake of this publication, the investment bank's share price rose by more than 3% in pre-market trading on Tuesday morning.


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