Photo: CNBC screenshot
They’re out!Earnings: $2.85
Revenue: $8.35 billion
Analysts expected earnings of $2.12 on revenue of $7.3 billion. Also, an earnings per share of $2.28.
As always, any commentary about trading, the economy, what clients are doing, and so forth will be closely watched.
Another bright spot — Fixed income, currency and commodities is up more than 20% according to Bloomberg.
Net revenue in equities $1.96 billion, that beats estimates of $1.8 billion. The bank has also increased its dividened to $0.50 from $0.46.
Comepensation, by the way, is up since revenue is up but its percentage of revenue remained steady at 44%.
The overview from Goldman’s press release is below.
NEW YORK, October 16, 2012 – The Goldman Sachs Group, Inc. (NYSE: GS) today reported net revenues of $8.35 billion and net earnings of $1.51 billion for the third quarter ended September 30, 2012. Diluted earnings per common share were $2.85 compared with a diluted loss per common share of $0.84 for the third quarter of 2011 and diluted earnings per common share of $1.78 for the second quarter of 2012. Annualized return on average common shareholders’ equity (ROE) (1) was 8.6% for the third quarter of 2012 and 8.8% for the first nine months of 2012.
Goldman Sachs continued its leadership in investment banking, ranking first in worldwide announced and completed mergers and acquisitions for the year-to-date. (2)
- The firm ranked first in worldwide equity and equity-related offerings and common stock offerings for the year-to-date. (2)
- Book value per common share and tangible book value per common share (3) both increased approximately 3% during the quarter to $140.58 and $129.69, respectively.
- The firm continues to manage its liquidity and capital conservatively. The firm’s global core excess liquidity (4) was $170 billion (5) as of September 30, 2012. In addition, the firm’s Tier 1 capital ratio under Basel 1 (6) was 15.0% (5) and the firm’s Tier 1 common ratio under Basel 1 (7) was 13.1% (5) as of September 30, 2012.
“This quarter’s performance was generally solid in the context of a still challenging economic environment,” said Lloyd C. Blankfein, Chairman and Chief Executive Officer. “We continue to be disciplined in managing our operations and capital, while effectively serving our clients’ needs. The focus on these priorities will serve our shareholders and the firm well over the longer term.”
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