Goldman Sachs reported third quarter earnings that beat analysts expectations on Tuesday and revenue that topped forecasts.
The firm reported earnings per share of $6.28, up 25.1% from a year earlier. Revenue came in at $8.65 billion, ahead of forecasts for $8.37 billion.
The “solid results” were driven by contributions from across the franchise and highlighted that year-to-date earnings per share of $19.21 is the highest in the company’s history while the year-to-date return on equity is the highest in nine years, Chief Executive David Solomon said.
“We remain well positioned to continue delivering for our clients and shareholders,” he added.
At 7:53 AM ET (11:53 GMT) Goldman Sachs shares (NYSE:GS) gained 0.99% to trade at $271.49 in pre-market trade following the report.
For the year, Goldman Sachs shares are down 16.51% as of Monday’s close, under-performing the S&P 500 which is up 2.5% year to date.
Goldman Sachs follows other major Financial sector earnings this month
On Friday, JPMorgan (NYSE:JPM) reported third quarter EPS of $2.34 on revenue of $27.82B, compared to forecasts of EPS of $2.26 on revenue of $27.44B.
Bank of America (NYSE:BAC) earnings beat analyst's expectations on Monday, with third quarter EPS of $0.66 on revenue of $22.78B. analysts expected EPS of $0.62 on revenue of $22.62B
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