Goldman Sachs said its net revenue in equities trading soared 72% from the year-ago level. (EPA Images pic)NEW YORK: Goldman Sachs reported a higher third-quarter profit on Tuesday that topped analyst estimates even as activity moderated from the booming prior quarter.
Profit at the New York financial heavyweight during the July-September period was US$5.1 billion, up 33% from the year-ago level but down 20% from the second quarter.
Like rival JPMorgan Chase, which reported earlier Tuesday, Goldman saw muted activity in some parts of its markets' business, such as fixed income, currency and commodities, where revenues were "essentially unchanged", the firm said in a press release.
But net revenue in equities trading soared 72% from the year-ago level.
