Earnings of Goldsmith (GS) is 3Q 2020

Goldham Sachs posted third-quarter results that crushed analysts’ profit estimates, beating stronger-than-expected strong results in bond trading and asset management.

The company posted a profit of 62 62.622 billion, or $ 8.8 billion, higher than the 5 5.57 per share estimated by analysts surveyed by Refinitive. Company-wide revenue, managed by the Department of Trading and Asset Management, rose 30% to 10. 10.78 billion, topping an estimated 1 billion.

Shares of the bank rose 1.1% in pre-market trading.

“Our ability to serve customers navigating in obscure environments performed well in the franchise, strengthening in the first half of the year,” Chief Executive Officer David Solomon said in the release.

The bank’s trading division generated revenue of .5 55.5555 billion, up 3% from the same period last year. The benefits et. The billion was boosted by bond trading results, which are about half a billion dollars more than analysts expected by Factset. The 2.0 2.05 billion equity trading earnings necessarily matched expectations.

The firm’s asset management division earned .7 77.7777 billion, up 1% from the previous year. .9 900 million more than the doctor’s estimate of .9 1.91 billion.

Goldman said the result was achieved by “significantly more” income from equity investments and lending and debt investments. The bank has a portfolio of public and private company stocks in the segment, and public stocks thrived there at higher market levels, Pay said.

Solomon has just marked his second year on the Goldham Sachs, but he is still making his mark. Last month, it restructured many of its businesses and made new heads for the New York-based bank’s asset management and customer and asset management departments.

The 151-year-old investment bank is in the midst of a transformation, launching a number of digital banking products in hopes of disrupting its established retail banking competitors.

It is also pushing for more revenue from asset management like rival Morgan Stanley, but Morgan Stanley has not announced megadalls like the two major acquisitions it announced this year.

Yesterday, shares of Goldum shares fell 8.3% this year, slightly lower than most major banks, and the KBW Bank Index fell 31%.

On Tuesday, rivals JPMorgan Chase and Citigroup posted results that beat analysts’ expectations, as both banks kept less money for default loans.

Here’s how the company did it:

Earnings: per 9.68 per share, as against 5.57 expected by the refinancing consent estimate.

Revenue: 78 10.78 billion, vs. 4. 9.46 billion.

Trading revenue: આવક 2.5 billion vs. 3 2.03 billion in Factset estimates, આવક 2.05 billion vs. 2.0 2.02 billion in fixed revenue.

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