Goldman Sachs profit nearly doubles on trading surge | Money

Goldman Sachs profit nearly doubles on trading surge | Money

Goldman Sachs profit nearly doubles on trading surge | Money
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Goldman Sachs profit nearly doubles on trading surge | Money
The bank’s net earnings applicable to common shareholders surged to US$3.5 billion in the quarter ended September 30 from US$1.8 billion a year ago. — Reuters pic

NEW YORK, Oct 14 — Goldman Sachs Group Inc reported a 94 per cent rise in quarterly profit today, driven by a resurgence in deal-making and continued strength in its trading and underwriting businesses.

The bank’s net earnings applicable to common shareholders surged to US$3.5 billion (RM14.5 billion) in the quarter ended September 30 from US$1.8 billion a year ago. Earnings per share doubled to US$9.68 from US$4.79 a year earlier.

Analysts had expected a profit of US$5.57 per share, on average, according to the IBES estimate from Refinitiv. It was not immediately clear if the figures were comparable. — Reuters

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