Goldman Sachs Q3 profit beats estimates on investment banking strength

Goldman Sachs reported a higher-than-expected profit for the third quarter, driven by strong performance in its investment banking division. The bank’s net income for the quarter was $3.5 billion, up from $2.8 billion in the same period last year. Investment banking revenues increased by 15%, supported by a surge in mergers and acquisitions activity. Goldman Sachs’ robust earnings highlight the resilience of its business model and its ability to capitalize on market opportunities.