Goldman Sachs revenue more than doubles on investment gains

Reuters

Goldman Sachs Group Inc reported a third-quarter profit versus a loss a year before, as revenue more than doubled due to gains in stocks and bonds it holds as investments and due to a sharp rise in investment banking revenue.

The investment bank reported earnings of $1.5 billion, or $2.85 per share, applicable to common shareholders, compared with a loss of $428 million, or 84 cents per share, a year earlier. Net revenue rose 133 percent to $8.35 billion from $3.6 billion.

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Goldman also raised its quarterly dividend to 50 cents per share from 46 cents per share. (Reporting By Lauren Tara LaCapra; Editing by Gerald E. McCormick)