Goldman posts bumper profits after dealmaking surge

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Goldman Sachs Reports Record Third-Quarter Results

Goldman Sachs announced its record-breaking third-quarter results on Tuesday, driven by a stellar performance from its investment banking division, which brought in $2.6 billion in fees.

The financial giant reported revenues of $15 billion for the period spanning from July 1 to Sept. 30, with earnings per share reaching $12.25.

These figures exceeded the forecasts by the London Stock Exchange Group, which predicted earnings per share of $11 and revenues of $14.1 billion.

Goldman CEO David Solomon agreed to a new $80 million ‘golden handcuffs’ deal with the bank earlier this year. AFP via Getty Images

According to insiders, this marks the best third-quarter performance in the bank’s history.

Goldman’s shares saw a 3% increase in premarket trading following the announcement.

CEO David Solomon commented, “This quarter’s results reflect the strength of our client franchise and focus on executing our strategic priorities in an improved market environment. Across our business, clients continue to turn to us for their most complex and consequential matters.”

Trading desks on Wall Street have seen positive outcomes due to President Donald Trump’s tariff policies, which have affected various markets.

Goldman’s stock price has surged by 37% in the current year. In January, the company revealed new bonus agreements for Solomon and COO John Waldron, with both executives set to receive $80 million ‘golden handcuffs’ bonuses that will vest after five years.

The announcement comes on the heels of Goldman’s plan to acquire Industry Ventures, a venture capital firm managing $7 billion in assets.

The deal involves a payment of $665 million in cash and equity, with an additional $300 million contingent on the firm’s performance through 2030. The transaction is expected to be finalized early next year.