Goldman Sachs´ shares were on course to trade higher today after the investment bank significantly beat third-quarter earnings expectations.
Revenues from investing and lending activities jumped 35% versus the year-ago period.
While overall results exceeded market expectations, Goldman still reported sharply lower revenues from trading activities, down by around 26% on the same period of 2016.
In common with its investment banking rivals, a low volatility environment brought a significant fall in revenues from trading bonds, currencies and commodities.
However, good performance elsewhere brought total net revenues to $8.33bn, up by 2% versus the 2016 third quarter.
Quarterly revenues from investing and lending activities surged to $1.9bn, up 35% versus the same period a year earlier.
Overall earnings for the third-quarter came in at $5.02 per share versus market expectations of $4.17.
“Our overall performance this year has been solid and provides a good foundation on which to execute and deliver our growth initiatives,” said Lloyd C. Blankfein, Chairman and Chief Executive Officer.