Goldman Sachs reports 45% earnings growth in Q3 2024

US investment bank Goldman Sachs, one of the world's largest financial institutions, has posted very strong results for the third quarter of 2024, with profits up 45% compared to the same period last year, pointing to a recovery in mergers and acquisitions as well as growth in stock market trading. These results suggest that two years of dealmaking stagnation is over and Goldman Sachs is back on track.

Goldman Sachs $GS reported strong earnings growth in the third quarter of 2024, up 45% compared to the same period last year.

The bank's net income rose to nearly $3 billion, up from the $2 billion achieved in the third quarter of 2023. Investment banking revenue increased 20% to $1.8 billion, driven by more bonds and equities issued.

The recovery in M&A also contributed to an increase in advisory fees, which rose only slightly but still point to a positive trend. This puts Goldman Sachs back in a position to be a strong player on Wall Street, with its stock up more than 3% in the pre…