Goldman Reports 63% Profit Jump in Q3

Goldman Sachs reported net profits of $5.4bn in Q3, up over 60% YoY. Investment Banking revenues jumped a massive 88% YoY to $3.7bn with advisory revenue hitting a record. Its Global Markets division generated quarterly net revenues of $5.6bn, up 23% YoY with FICC revenues flat at $2.5bn while Equities surged 51% to $3.1bn led by a 2x jump in equities financing. Meanwhile Goldman’s Consumer and Wealth Management division saw revenues rise 35% to $2bn. Goldman’s CET1 ratio stood at 14.1%, down 30bp QoQ. The bank’s earnings report concludes the results of the major big banks.

Goldman’s bonds were stable with its 4% Perp at 98.92, yielding 4.04%