Goldman Sachs announced a stronger third‑quarter profit, reaching $5.29 billion, or $17.01 per share, for the three months ended September 30. This compares with $4.10 billion, or $12.25 per share, a year earlier.
Equities drive growth
The bank’s equities division posted a 72% increase in quarterly revenue, climbing to $6.44 billion. Volatile U.S. equity markets, spurred by the Federal Reserve’s September rate hike, higher fuel costs and a chip‑stock sell‑off, prompted investors to reshuffle portfolios, boosting trading desk earnings.
Mixed performance in other units
Revenue from the fixed‑income, currency and commodities (FICC) segment fell 1% to $3.47 billion year over year. After a 32% surge in Q2, FICC net revenue dropped 10% in Q1 amid volatility from the Iran conflict, and the bank expects a softer figure for the current quarter.
CEO David Solomon said the firm remains “very well positioned to continue to deliver for our clients” despite global complexity and uncertainty.
Investment banking holds steady
Goldman’s investment banking division saw fees rise 21% to $3.22 billion, defying a broader market slowdown. The bank posted an 18% jump in advisory revenues and maintained strong debt and equity underwriting activity.
Notable deals included acting as joint lead bookrunner for Intel’s $23 billion equity offering, global coordinator for SK Hynix’s $26.5 billion U.S. offering, advising the New York Yankees on a $2.6 billion financing with Apollo Sports Capital affiliates, and supporting Nvidia’s $3.5 billion investment in MediaTek.
On a sequential basis, investment‑banking fees fell 5% after a robust second quarter.
Private credit and wealth management
Goldman’s private credit fund reported that investor redemption requests remained below the 5% cap for the second consecutive quarter, indicating easing pressure on private‑credit managers.
The asset and wealth management division posted a 14% revenue increase, contributing to total revenue growth of 23% to $18.68 billion.
Market reaction
Shares rose about 1.5% in pre‑market trading and have gained roughly 1.7% so far in 2026, lagging behind peer Morgan Stanley and the S&P 500.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
