Markets News

Goldman Sachs profit nearly doubles on trading surge

Oct 14 (Reuters) - Goldman Sachs Group Inc reported a 94% rise in quarterly profit on Wednesday, driven by a resurgence in deal-making and continued strength in its trading and underwriting businesses.

The bank’s net earnings applicable to common shareholders surged to $3.5 billion in the quarter ended Sept. 30 from $1.8 billion a year ago. Earnings per share doubled to $9.68 from $4.79 a year earlier.

Analysts had expected a profit of $5.57 per share, on average, according to the IBES estimate from Refinitiv. It was not immediately clear if the figures were comparable. (Reporting by Anirban Sen in Bengaluru and Matt Scuffham in New York; Editing by Saumyadeb Chakrabarty)