Goldman Sachs reported third-quarter earnings on October 13, surpassing analyst expectations. The investment bank posted $18.68 billion in revenue, marking a 23% year-over-year increase. Earnings per share reached $17.01, exceeding the consensus estimate of $12.86.
Equities trading and investment-banking fees drove the quarterly growth. Despite the performance, sell-side analysts issued a general Hold rating for the stock.
The share price faces pressure from a sell-the-news investor reaction and mixed guidance. Uncertainty regarding interest rates remains a primary concern for investors. While JPMorgan raised its price target, other firms suggest the market already priced in the strong results.