Goldman Sachs Group Inc reported a 66% surge in third-quarter earnings that swept past expectations on Friday, as Wall Street's biggest investment bank rode a record wave of M&A activity that has also boosted profit for other big U.S. banks.
A view of the Goldman Sachs stall on the floor of the New York Stock Exchange July 16, 2013. REUTERS/Brendan McDermidreported a 66% surge in third-quarter earnings that swept past expectations on Friday, as Wall Street's biggest investment bank rode a record wave of M&A activity that has also boosted profit for other big U.S. banks.
Earnings per share rose to $14.93 from $8.98 a year earlier. Analysts on average had expected a profit of $10.11 per share, according to the IBES estimate from Refinitiv. Deals worth more than $1.5 trillion were signed by the world's biggest investment banks in the September quarter, with Goldman comfortably topping the league tables for worldwide M&A advisory, as per Refinitiv data.Overall financial advisory revenue jumped 225% to $1.65 billion, while underwriting revenue surged 33% to $1.90 billion.
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