Earnings

Goldman Sachs (GS) earnings 3Q 2023

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Goldman Sachs tops estimates on stronger-than-expected bond trading

Goldman Sachs posted third-quarter profit and revenue Tuesday that exceeded analysts’ estimates on stronger-than-expected trading revenue.

Shares of the bank fell more than 1%, and are down about 10% for the year.

Here’s what the company reported:

  • Earnings: $5.47 a share, topping the $5.31 a share estimate from LSEG, formerly known as Refinitiv
  • Revenue: $11.82 billion vs. $11.19 billion expected

The bank said profit dropped 33% to $2.058 billion, or $5.47 a share, from a year earlier. Revenue also slipped 1% to $11.82 billion, though that topped expectations by roughly $600 million.

Bond trading revenue fell 6% from a year earlier to $3.38 billion, but that was almost $600 million more than…



Source cnbc.com

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