Goldman Traders Trample Estimates on Boom in Fixed-Income
- Best FICC quarter through pandemic on commodities, currencies
- Investment banking misses estimates on underwriting slump
David Solomon
Photographer: Simon Dawson/BloombergThis article is for subscribers only.
Goldman Sachs Group Inc. traders soared past analysts’ estimates as war-induced volatility helped the firm score an earnings beat as well.
Trading posted a surprise 4% revenue increase, crushing the 23% drop that was expected. The biggest lift came from the fixed-income business, which jumped 21%, Goldman said in a statement Thursday. That was the best performance since at least 2018, but a miss for the investment-banking operation tempered the positive results.