For Goldman Sachs, It's Rinse and Repeat
It's not really a surprise at this point, but the investment banking giant Goldman Sachs (NYSE: GS) blew out analysts' projections in the third quarter and had another stellar quarter of earnings in what has already been a stellar year for the company. Goldman generated nearly $5.4 billion in profit in the third quarter, or $14.93 in earnings per share, on total revenue of $13.6 billion. The consensus estimate was only $10.18 EPS on revenue of $11.68 billion.
Blowing out analyst expectations and producing massive profits have become the norm for Goldman, as the business is firing on all cylinders, taking advantage of strong market conditions in investment banking and trading, and executing on its strategic vision.
Through the first nine months of the year, Goldman has put up EPS of $48.59 on total revenue of $46.7 billion. EPS has now almost doubled what the bank put up on a full-year basis in 2020, which was a very strong year on its own.
Source Fool.com
