All of its major businesses topped analysts’ estimates.
Goldman Sachs posted the highest earnings per share in more than five years as all of its major businesses topped analysts’ estimates and the firm paid out a smaller portion of revenue to compensate employees.
Net income surged 40 percent to $2.84 billion from $2.03 billion.
CEO Lloyd Blankfein, 60, has preached patience as he stuck with trading businesses that competitors pared. His firm’s 12% increase in bond-trading revenue and 46% jump in equities surpassed gains at JPMorgan, the biggest U.S. bank by assets.
'In short, nothing not to like about these results', Chris Kotowski, an analyst at Oppenheimer, wrote in a note to clients. 'Equity trading shines in all-around great quarter'.
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