Goldman Sachs stock rises as Q3 earnings beat expectations

Investing.com -- Goldman Sachs reported third-quarter earnings that surpassed analyst estimates, driving its stock up 3.3% in early trading.

Global Banking & Markets was a key driver of the strong performance, generating quarterly net revenues of $8.55 billion. The segment saw robust results in Equities and record quarterly revenues in Fixed Income, Currency and Commodities financing. Asset & Wealth Management also contributed to the positive results, with quarterly revenues of $3.75 billion, including record Management and other fees. Assets under supervision increased by $169 billion during the quarter to a record $3.10 trillion.

The bank revealed that its provision for credit losses was $397 million for the third quarter of 2024, compared with $7 million for the third quarter of 2023 and $282 million for the second quarter of 2024.

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