Markets

Goldman Has One Word For Its Q3 Results: ‘Strong’

"No weakness!," shrieked someone at Goldman, which reported Q3 EPS of $9.68 on Wednesday, making a mockery of consensus, which was looking for "just" $5.52. Net revenue of $10.78 billion was up 30% YoY, and easily beat the $9.4 billion the market expected. Indeed, the highest estimate was $10.56 billion. The bank is coming off an impressive Q2, and this quarter's results are set against what, so far anyway, have been mixed numbers from peers, whose experiences in the third quarter suggest that while the worst-case for the US economy hasn't yet panned out, the outlook is uncertain, at best, and wholly convoluted, at worst. But on a quick read, there doesn't appear to be much that's convoluted about Goldman's quarter. Although obviously not as robust as Q2's mind-boggling figures, FICC revenue of $2.5 billion was up 49% YoY and is comfortably ahead of the $2.27 billion the Street was expecting. While equities was a small miss ($2.05 billion versus consensus $2.14 billion), it was still up 10% and overall trading revenue of $4.55 billion represents a 29% increase on year, and is a beat. In FICC, the bank cites "significantly higher net revenues in interest rate products, mortga
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1 comment on “Goldman Has One Word For Its Q3 Results: ‘Strong’

  1. runamok says:

    “Gilded depression” as one rather eclectic, retired hedge fund manager has called it.

    Can someone call KRE and let her know it’s all over? I mean “all over” as in there is no economic depression after all, that all the boarded up windows and going out of business signs are there to ward off anti-Facists. Tell her she can come back up now.

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