Goldman Sachs Q3 2017 earnings were released before opening bell this morning. The firm reported earnings of $5.02 per share on $8.3 billion in revenue, compared to the consensus estimates of $4.17 per share in earnings on $7.5 billion in revenue. In last year’s third quarter, Goldman Sachs reported $4.88 per share in earnings on $7.9 billion in revenue.
Institutional Client Services revenues fell 17% to $3.12 billion. Goldman Sachs’ Fixed Income, Currency, and Commodities Client Execution (FICC) trading revenue amounted to $1.45 billion, a 26% year-over-year decline, versus the $1.38 billion that was expected. Investment banking revenue came in at $1.8 billion, a 17% increase year over year that handily beat the consensus of $1.63 billion, while equities trading revenue came up short at $1.67 billion versus the consensus of $1.77 billion. Equities securities revenues surged 51% to reach $1.39 billion.
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Investing and lending revenues rose 35% year over year to $1.88 billion. Investment management revenues ticked higher by 3% year over year to $1.53 billion. Assets under supervision rose to $1.46 trillion, a new record, including net inflows in long-term assets under supervision of $13 billion. Book value per share rose 1.8% year over year and is up 4.5% year to date at $190.73. Goldman Sachs’ capital ratios remained above the minimum requirements as the Common Equity Tier 1 Standardized ratio was 13.3%, while the Basel III Advanced ratio was 12% at the end of the quarter.
“Our overall performance this year has been solid and provides a good foundation on which to execute and deliver our growth initiatives,” said Chairman and CEO Lloyd C. Blankfein in a statement with the Goldman Sachs Q3 2017 earnings release.
The firm’s stock rose by as much as 1.27% to $245.49 in premarket trades immediately following the Goldman Sachs Q3 2017 earnings release.