Goldman Sachs Tops Expectations. Wall Street More Focused on the Bank’s Future.

Business

October 18, 2022 by keithhill530

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[ad_1] Third-quarter earnings at Goldman Sachs topped expectations but Wall Street is more concerned over the investment bank’s bigger plans. Profits at the investment bank were down 43% from the year-ago quarter, reflecting a sharp drop in advisory and underwriting revenue drying up across the industry. Goldman Sachs earned $3.1 billion, or $8.25 a share,

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Third-quarter earnings at

Goldman Sachs

topped expectations but Wall Street is more concerned over the investment bank’s bigger plans.

Profits at the investment bank were down 43% from the year-ago quarter, reflecting a sharp drop in advisory and underwriting revenue drying up across the industry. Goldman Sachs earned $3.1 billion, or $8.25 a share, which was better than the $2.8 billion, or $7.75 a share, projected by analysts surveyed by FactSet. Revenue of $11.9 billion was down 21% year over year but ahead of the $11.4 billion expected by analysts.

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