Earnings

October 15, 2021

Goldman Stays Golden ✨

Goldman Sachs reported beefy earnings today, ending off the first week of the new earnings season in spectacular fashion. 🥳 👏

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. 💸

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.

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The bank’s market division made $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 did solid in the latest quarter, helping to boost the $XLF +1% this week.

$GS gained 3.8% today. 🤑

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