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Goldman's profit beats estimates as dealmaking rebound boosts investment banking

On Tuesday, Goldman Sachs reported quarterly profit jumped more than 37 per cent to $4.1 billion, driven by higher advisory fees and investment banking income rising to $2.66 billion.
A rebound in dealmaking has supported Goldman, with global M&A volumes for the first nine months crossing $3.45 trillion, nearly 48% in the U.S., and CEO David Solomon noting increased IPO activity in recent months.
Assets under supervision climbed to $3.45 trillion, boosting management fees by 12 per cent and helping asset and wealth management revenue rise 17 per cent to $4.4 billion this year.
Shares of the bank fell 1.5 per cent in premarket trading after the results, and Goldman set aside $339 million as provisions for credit losses, mainly tied to its credit card portfolio.
Strategically, Goldman announced last month it will take a stake worth as much as $1 billion in T. Rowe Price, while the third quarter was one of Wall Street's calmest in nearly six years.

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17 Articles

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10 hours ago·New York, United States

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The Globe & Mail

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Goldman Sachs profit jumps on growth of advisory fees, rallying markets

Banner year for dealmaking has boosted revenue from managing client assets

11 hours ago·Canada

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Investing.com

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Goldman Sachs tops Q3 expectations on strong across-the-board growth

11 hours ago

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Reuters

+3 Reposted by 3 other sources

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Goldman's profit beats estimates as dealmaking rebound boosts investment banking

Goldman Sachs beat Wall Street expectations for third-quarter profit on Tuesday, as its investment bankers earned higher advisory fees and rallying markets boosted revenue from managing client assets.

11 hours ago·United Kingdom

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Devdiscourse

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Goldman Sachs' Profit Surge: Investment Banking's Golden Era

Goldman Sachs' Profit Surge: Investment Banking's Golden Era Goldman Sachs has registered a remarkable 37% rise in quarterly profits, spurred by robust performance in investment banking. The bank's revenue boost was fueled by a 60% surge in advisory fees amid reviving markets and rising client asset management fees.The bank's positive outlook for a renewed dealmaking year has become apparent, with investment banking fees climbing to $2.66 billio…

11 hours ago·India

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RTÉ

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Goldman Sachs profit up as bankers cash in on big deals

Goldman Sachs' quarterly profit jumped more than 37% today as its investment bankers earned higher advisory fees and rallying markets boosted revenue from managing client assets.

11 hours ago·Ireland

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