Goldman Beats Estimates on Investments, Underwriting Fees
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Goldman Sachs Group Inc., the fifth-biggest U.S. bank by assets, reported profit that beat analysts’ estimates on higher underwriting fees and a jump in the value of the firm’s own investments.
Third-quarter net income of $1.51 billion, or $2.85 per share, compared with a loss of $393 million, or 84 cents, a year earlier, the New York-based bank said today in a statement. The average estimate of 25 analysts surveyed by Bloomberg was $2.28 a share.