The Goldman Sachs Group (NYSE:GS) posted its third quarter earnings results on Wednesday 14th October 2020 before market open.
The Goldman Sachs Group posted quarterly income of $ 9.68 per share, from the revenue of $ 10,781.00 million
The consensus estimate are $ 5.57 income per share from revenues of $ 9458.83 million.
The third quarter financial report outlined, earnings beat street analysts by $ 4.11 or 73.79 percent, where as revenues outshined analysts estimates by $ 1,322.17 million or 13.98 percent.
The Goldman Sachs Group projected third quarter earnings outlook in a range of per share, and revenues outlook between .
On the other hand, The quarterly earnings hiked 102.09 percent compared with the same quarter last year, at the same time revenues expanded 29.53 percent versus third quarter of last year.
During the first nine months of 2020, the firm recorded net provisions for litigation and regulatory proceedings of $ 3.15 billion,
which reduced diluted EPS by $ 8.77 and reduced annualized ROE by 5.1 percentage points.
David M. Solomon, Chairman and Chief Executive Officer, said, Our ability to serve clients who are navigating a very uncertain environment drove strong performance across the franchise, building off a strong first half of the year. As our clients begin to emerge from the tough economy brought on by the pandemic, we are well positioned to help them recover and grow, particularly given market share gains we’ve achieved this year.
