Goldman Sachs said profit surged 40 percent to $2.57 billion, exceeding analysts’ estimates on better-than-expected revenue from investment banking, asset management and its merchant bank division.
Earnings of $5.98 per share beat the $4.66 estimate of analysts surveyed by Thomson Reuters. Company-wide revenue rose 19 percent to $9.40 billion, higher than the $8.74 billion estimate. Three of the New York-based bank’s four main businesses — excluding the trading division — all posted “surprisingly strong” results, thanks to higher private equity gains and fees from equity issuance, according to Atlantic Equities.
