Goldman’s third-quarter earnings crush Wall Street estimates
Revenue from buying and selling stocks and bonds increases 29%, driven by a nearly 50% surge in fixed-income trading
14 October 2020 - 16:47
New York — Goldman Sachs Group joined other big US banks in cashing in on continuing pandemic-induced volatility, as the firm’s bond traders posted the biggest jump on Wall Street so far.
Third-quarter revenue from buying and selling stocks and bonds increased 29%, driven by a 49% surge in fixed-income trading and mirroring similar gains reported Tuesday by JPMorgan and Citigroup. Revenue at each of Goldman’s four divisions rose from a year earlier, pushing earnings per share to a record that was almost twice as high as analysts predicted...
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