Strong Trading Revenue Boosts Goldman Sachs To Multi-Month Highs – Call Options In Demand
Oct, 18th 15:16
Boosted by quarterly earnings that beat expectations, shares of Goldman Sachs Group Inc. surged strongly on Tuesday. The New York-based firm earned a profit of $2.09 billion, or $4.88 a share, up 47% from a profit of $1.43 billion, or $2.90 a share, in the same period last year.
The investment bank continued to maintain a strong run after a slow start to the year. Goldman’s revenue was reported to have grown by 19% to $8.17 billion from $6.86 billion a year earlier. The bank generated the biggest chunk of its revenue from trading, with trading revenue increasing by 17% to $3.75 billion from $3.21 billion in the same quarter a year ago.
Goldman’s chief rival, Morgan Stanley is slated to report results before the market open on Wednesday.
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