Goldman Sachs reports 50% jump in profits

US investment bank Goldman Sachs reported a 50 per cent rise in third-quarter net profit this morning, as last month’s sudden pickup in bond market activity boosted trading revenue.

Net income attributable to common shareholders rose to $2.14 billion, or $4.57 per share, in the three months ended September 30th from $1.43 billion, or $2.88 per share, a year earlier.

Analysts on average had expected earnings of $3.21 per share, according to Thomson Reuters I/B/E/S. It was not immediately clear whether the reported figure was comparable.

Revenue from the bank’s fixed income,currency and commodities business jumped 74 per cent to $2.17 billion.

Reuters