10/15/2019, 1:26 PM (Source: TeleTrader)
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Goldman's Q3 EPS at $4.79, down 24% YoY

Goldman Sachs Group Inc. said on Tuesday its third-quarter net revenues stood at $8.32 billion, 6% less than in Q3 2018. The decrease was caused mainly by lower net revenues in Investing & Lending and Investment Banking, which made 15% and 17% less year-on-year. At the same time, Institutional Client Services revenue proceeds rose 6% on an annual basis.

The banking giant's net earnings dropped 26% year-on-year, to amount to $1.88 billion, while its earnings per share came in at $4.79, 24% lower than last year. Operating expenses were $5.62 billion for the third quarter, essentially unchanged with the same period last year.

"Our results through the third quarter reflect the underlying strength of our global client franchise and its ability to produce solid results in the context of a mixed operating environment. We continue to execute on our strategic priorities, including investing in important growth opportunities in our existing and new businesses and in delivering for our clients in the most efficient and effective manner possible," chairman and CEO David Solomon said.

Breaking the News / MD