Goldman Sachs' profit jumps 58 percent as trading revenue surges


Goldman Sachs Group Inc reported a 57.9 percent rise in quarterly profit on Tuesday as trading revenue surged.

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Net income applicable to shareholders increased to $2.10 billion in the third quarter ended Sept. 30 from $1.33 billion a year earlier, while earnings per share rose to $4.88 from $2.90.

Analysts on average had expected earnings of $3.82 per share, according to Thomson Reuters I/B/E/S. It was not immediately clear if the reported figures were comparable.

It was the bank's second straight rise in quarterly profit after four quarters of decline.

Revenue from trading fixed-income securities, commodities and currencies rose 34 percent to $1.96 billion.

Total net revenue rose 19 percent to $8.17 billion. ( ]

Goldman joined JPMorgan Chase & Co , Citigroup Inc and Bank of America Corp in reporting an increase in revenue from trading, which got a boost from Britain's surprise vote to quit the European Union as well as from uncertainty about monetary policy in the United States and elsewhere.

Goldman's chief rival, Morgan Stanley , is due to report results on Wednesday.

(Reporting by Sruthi Shankar in Bengaluru; Editing by Ted Kerr)