Goldman Sachs expecting a record full-year profit
Goldman Sachs is expecting to make a record full-year profit having earned billions over the past week amid a dealmaking frenzy.
Goldman Sachs’s profit jumped 60% to $5.38 billion in its latest quarter.— Keith Boykin (@keithboykin) October 15, 2021
I guess all that “socialism” in Washington is really killing American businesses. 😏 https://t.co/CXSqnB5CkP
The US investment bank divulged Q3 earnings per share of $14.93 on total income of $5.4bn.
Goldman’s growth came largely thanks to its investment banking arm which brought in $3.7bn, while its overall revenue was $13.6bn, $2bn above analysts’ consensus.
*GOLDMAN SACHS 3Q TRADING REV $5.61B, EST. $4.14B— zerohedge (@zerohedge) October 15, 2021
*GS 3Q EQUITIES SALES & TRADING REV $3.10B, EST. $2.21B
*GOLDMAN SACHS 3Q INVESTMENT BANKING REV. $3.55B, EST. $2.85B
*GOLDMAN SACHS 3Q FICC SALES & TRADING REV $2.51B, EST. $1.95B
Banks across Wall Street will be popping champagne this weekend amid a rush to close corporate mergers, IPOs and private equity takeovers.
JP Morgan’s earnings from investment banking grew by 52%, while Morgan Stanley saw a 67% increase.
As of June 30, 2021, JPMorgan Chase is the largest bank in the United States and the fifth-largest bank in the world in terms of total assets, with total assets of US$3.684 trillion.— Jo.#FreeNavalny #FreeAssangeNow #RegulateFacebook (@GodwinAdamsonJ1) October 15, 2021
For the first nine months of 2021, Goldman Sachs confirmed revenue of $46.7bn and net income of $17.7bn. This is higher than any full-year period in the bank’s history.
The Goldman Sachs share price is up by 2.89% to $402.5 on Friday afternoon. Year-to-date the New York bank has added 51.89% to its share price.
“No one is expecting the environment to continue,” said Chris Kotowski of Opeenheimer, commenting on the bank’s remarkable results.
“That said, with the Fed printing $120bn of new money each and every month, every CEO in the world has lots of Monopoly money to play with. So M&A and investment spending and capital raising will likely remain strong,” Kotowski added.
The financial system is crumbling. We are in a massive asset bubble created by the Fed through endless bond purchases and extreme money printing. The only way out of this debt bubble is by inflating it away. Be prepared when prices move. They will move fast and hard.— Nancy Pelosi Portfolio Tracker (@NancyTracker) October 13, 2021