The Wall Street giant's net profit slumped 33% to $2.06 billion, or $5.47 per share, it said on Tuesday. Analysts on average had expected a profit of $5.31 per share.
Goldman Sachs' third-quarter profit dropped less than expected as a nascent recovery in dealmaking offset the $864 million writedown related to its GreenSky fintech business and real estate investments. The Wall Street giant's net profit slumped 33% to $2.06 billion, or $5.47 per share, it said on Tuesday. Analysts on average had expected a profit of $5.31 per share, according to LSEG data. Shares of the bank were marginally down in volatile premarket trading.
Goldman was an underwriter for high-profile initial public offerings in September, including SoftBank Group's chip designer Arm Holdings and grocery delivery app Instacart. The share sales sparked optimism about a recovery in the IPO market, but poor performance after debuts and the lukewarm reception to Germany's sandal maker Birkenstock have raised doubts. Goldman's investment banking fees of $1.
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