Goldman Sachs shares rise as earnings blow past the Street on the best trading results in years

Goldman said it generated $2.42 billion in profit, or $6.26 a share, crushing the $3.78 a share estimate of analysts surveyed by Refinitiv. It was the New York-based bank’s biggest earnings outperformance in nearly a decade. Revenue of $13.3 billion was more than $3.5 billion higher than the estimate, fueled by strong results in its trading and investment banking divisions.

Bond trading revenue surged almost 150% to $4.24 billion, and equities trading revenue rose 46% to $2.94 billion. Together, the trading division produced roughly $2.5 billion more than expected.

Source: Goldman Sachs (GS) earnings Q2 2020 blow past Street