The Straits Times
Published on Oct 16, 2012

Goldman Sachs' earnings soar, but caution rules


NEW YORK - Goldman Sachs easily beat analysts' estimates for earnings and revenue in the third quarter, bouncing back from a loss in the same period a year ago.

The investment bank also said it would raise its dividend.

Net income for common shareholders was US$1.5 billion (S$1.8 billion), or US$2.85 per share. Analysts had been predicting US$2.19 per share, according to FactSet.

Revenue also beat estimates, breezing past the US$7.2 billion forecast by analysts and more than doubling to US$8.4 billion, from US$3.6 billion a year ago.