Goldman Sachs Beats Earnings And Revenue Expectations

Goldman Sachs Group Inc. reported a third-quarter profit of $2.24 billion, or $4.57 cents a share, in the quarter, up from $1.51 billion, or $2.88 cents a share, in the year-earlier period, exceeding the FactSet consensus analyst estimate of $3.21 cents. Sales rose to $8.39 billion from $6.72 billion, also above analyst forecasts of $7.82 billion, as the investment bank's fixed income trading revenue climbed 74% to $2.17 billion. Goldman Sachs also announced it will raise their quarterly dividend to 60 cents. Meanwhile, the shares slipped 0.3% in premarket trade, but were holding up well considering S&P 500 futures were down over 1%. The shares were flat year to date through Wednesday, while the S&P 500 has gained 0.76%.