On Tuesday, Goldman Sachs Group Inc. (NYSE:GS) shares are trading higher after the company reported revenue of $12.70 billion for the third quarter, beating the consensus of $11.87 billion.
Sales increased 7% Y/Y, reflecting higher net revenues in Global Banking & Markets and Asset & Wealth Management, partially offset by lower net revenues in Platform Solutions.
Global Banking & Markets revenues were $8.55 billion, up 7% Y/Y. This was boosted by a 20% Y/Y increase in investment banking fees to $1.87 billion, led by higher revenues in Debt and Equity underwriting. Slight gains in advisory revenues contributed significantly to this growth.
Net revenues in Fixed Income, Currency, and Commodities (FICC) were $2.96 billion, down 12% Y/Y, primarily reflecting ...
