Net profit of Goldman Sachs increased by 60%
According to a report by Goldman Sachs Group Inc, in the third quarter of 2021, the bank received 60% more profit ($ 5.38 billion) than in the same period last year ($ 3.37 billion).
The organization's performance exceeded analysts' expectations. So, earnings per share rose from $ 8.98 in 2020 to $ 14.93, while analysts had predicted $ 10.14. Revenue was $ 13.61 billion in the last quarter (expectations were $ 11.14 billion) - last year it was only $ 10.78 billion.However, the amount of funds under management, on the contrary, decreased by 18% to $ 2.28 billion.
The largest share in the growth in profit was brought by investment banking, whose revenue increased by 88% to $ 3.7 billion (against a forecast of $ 2.6 billion). A positive result was the profit in the field of financial consulting, as well as the organization of placements of shares and bonds.