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Goldman Sachs wallops profit estimates on stronger-than-expected bond trading

Goldman Sachs wallops profit estimates on stronger-than-expected bond trading

PUBLISHED WED, OCT 14 20207:00 AM EDTUPDATED 4 HOURS AGOHugh Son@HUGH_SONKEY POINTS

  • Goldman Sachs posted third-quarter results that crushed analysts’ profit estimates on stronger-than-expected results in bond trading and asset management.
  • The firm generated $3.62 billion in profit, or $9.68 a share, exceeding the $5.57 per share estimate of analysts surveyed by Refinitiv.
  • Companywide revenue of $10.78 billion topped the estimate by more than $1 billion, driven by the trading and asset management divisions.
  • Shares of the bank gained 0.6% after rising 2.2% earlier in premarket trading.

WATCH NOWVIDEO01:51Goldman Sachs’ third-quarter earnings beat estimates

Goldman Sachs on Wednesday posted third-quarter results that crushed analysts’ profit estimates on stronger-than-expected results in bond trading and asset management.

The firm generated $3.62 billion in

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