Goldman Sachs Group posted better-than-expected quarterly earnings today, fuelled by outsized bond trading profits.
The New York-based firm reported net income for common shareholders of $3.03 billion, or $5.25 a share. That compares with $845 million, or $1.81 per share, in the year-earlier quarter.
Analysts on average had forecast earnings of $4.24 a share. Goldman shares were down 1.4 per cent premarket trading today.
Goldman set aside $5.4 billion for compensation during the third quarter, raising its total to $16.8 billion for the year. In the first half of the year, it averaged $5.7 billion per quarter, or just under half its revenue.
Goldman Shares closed at $192.28 yesterday on the New York Stock Exchange. The shares are up more than 300
percent since lows set last November.
Reuters
