Goldman Sachs reported beefy earnings today, ending off the first week of the new earnings season in spectacular fashion. π₯³ π
The banking giant stayed golden in Q3 2021, with EPS of $14.93. Analysts expected $10.18, which gave the company a 49.1% surprise. Profits were up 63% to $5.28 billion. πΈ
For revenue, Goldman booked $13.61 billion. Analysts expected $11.68 billion in revenue, which made for a 17% surprise. Revenue was up 26% YoY.
As we’ve seen from other banks in the latest quarter, strong market performance makes for strong investment banking revenue. Goldman brought in $3.7 billion from its investment bank division, which was up 88% YoY.
The bank’s market division madeΒ $5.61 billion, bond trading revenue pulled $2 billion, and its consumer-facing biz (which includes credit cards and deposit balances) earned $2.02 billion.
Goldman was the last of the “major banks” to report this week. All of banks didΒ solid in the latest quarter, helping to boost the $XLF +1% this week.
$GS gained 3.8% today. π€