Goldman Sachs reports Q3 profit of $2.09bn

Company News | Business | Economy | Markets 10/18/2016, 1:37 PM
Goldman Sachs reports Q3 profit of $2.09bn

The Goldman Sachs Group Inc. said on Tuesday its third-quarter net earnings came in at $2.09 billion, while revenues reached $8.17 billion over the same period. Diluted earnings per common share rose to $4.88 from $2.9 seen in the penultimate quarter of the last year. Moreover, the return on equity for average common shareholders stood at 11.2% for the three months ended on September 30, and at 8.7% for the first nine months of this year.

The biggest contribution to the revenues figure came from the group's institutional client services division, of $3.7 billion, followed by investment banking business with $1.5 billion. Fixed income, currency and commodities client execution was the activity that generated the most sales during the three-month period, equal to $2 billion. Among the highlights stated in its release, the bank pointed out it ranked first worldwide in announced and completed mergers and acquisitions for the year to date. Its assets under supervision climbed to a record $1.35 trillion, while the book value per common share rose 2.6% during the third quarter, with the firm maintaining strong capital ratios and liquidity.

“We saw solid performance across the franchise that helped counter typical seasonal weakness,” said Lloyd C. Blankfein, Goldman's chairman and chief executive.

TeleTrader Newsroom / IB


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