Goldman Sachs' third-quarter profit beat estimates, fueled by a rebound in bond sales, stock offerings and mergers, sending its shares up more than 3% in premarket trading.
Robust U.S. jobs and wage growth have underscored the resilience of the economy, while an interest-rate cut by the Federal Reserve have also encouraged companies to pursue deals. The investment bank continues to take a hit from its ill-fated consumer business two years after stepping back from it. Goldman has since shifted its focus back on traditional mainstays of investment banking and trading.
Its card partnership with Apple is also facing an uncertain future, with JPMorgan in talks to replace Goldman as the tech behemoth's credit-card partner.
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