Goldman Sachs Exceeds Wall Street Expectations, Posts Record EPS

Earnings release of Goldman Sachs

Source: Unsplash | Photographer: Floriane Vita

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On Wednesday, one of the leading U.S. banks, Goldman Sachs, announced better-than-expected Q3 2020 results due to strong bond trading and asset management performance. Shortly after the news, the bank’s shares rose by an extra 0.6% on top of the 2.2% gains achieved in premarket trading.

The main financial highlights in Goldman Sachs’ earnings release are: 

 

Total earnings: $10.78 billion (30% increase year-over-year) vs. expectations for $9.46 billion. According to the bank, this growth was mainly driven by the trading and asset management divisions.

Net earnings: $3.62 billion 

Earnings per share: record $9.68 vs. expectations for $5.57

Trading Revenue: The trading division generated $4.55 billion in revenue (29% increase year-over-year) thanks to strong bond trading results ($2.5 billion) and trading revenue from equities ($2.05 billion).

Asset management division: The asset management division generated $2.77 billion in revenue (71% increase year-over-year).

 

The 151-year-old investment bank is currently undergoing a major internal restructuring and has already launched several digital banking products in an attempt to catch up on its competition.

 

“Our ability to serve clients who are navigating a very uncertain environment drove strong performance across the franchise, building off a strong first half of the year.” 

David Solomon, CEO

 

Goldman Sachs is also pushing to get more revenue from wealth management, similarly to its rival Morgan Stanley, but it has yet to announce any major acquisitions.


Upcoming reports

See the full list of upcoming earnings reports for 19 – 23 October in the tables below.

Monday, October 19th 2020

Country of originCompany nameFiscal period
USAInternational Business Machines CorpQ3 2020
USACadence Design Systems IncQ3 2020
USAHalliburton CoQ3 2020
Kingdom of the NetherlandsKoninklijke Philips NVQ3 2020

Tuesday, October 20th 2020

Country of originCompany nameFiscal period
USAiRobot CorpQ3 2020
USATexas Instruments IncQ3 2020
USASnap IncQ3 2020
CanadaCanadian National Railway CoQ3 2020
USAInteractive Brokers Group IncQ3 2020
AustriaTelekom Austria AGQ3 2020
USAPhilip Morris International IncQ3 2020
USALockheed Martin CorpQ3 2020
USAIQVIA Holdings IncQ3 2020
USAPaccar IncQ3 2020
USAHarley-Davidson IncQ3 2020
USAProcter & Gamble CoQ1 2021
USATravelers Companies IncQ3 2020
NorwayNordic Semiconductor ASAQ3 2020
SwedenHusqvarna ABQ3 2020
NorwayYara International ASAQ3 2020
SwedenVolvo ABQ3 2020
NorwayGjensidige Forsikring ASAQ3 2020
SwitzerlandUBS Group AGQ3 2020

Wednesday, October 21st 2020

Country of originCompany nameFiscal period
USAWhirlpool CorpQ3 2020
USAXilinx IncQ2 2021
United KingdomTechnipFMC PLCQ3 2020
USATesla IncQ3 2020
USAMicrosoft CorpQ1 2021
USALam Research CorpQ1 2021
USASLM CorpQ3 2020
USAChipotle Mexican Grill IncQ3 2020
USACSX CorpQ3 2020
USAKeyCorpQ3 2020
USABrinks CoQ3 2020
USAAlexion Pharmaceuticals IncQ3 2020
USAAbbott LaboratoriesQ3 2020
USABiogen IncQ3 2020
USAVerizon Communications IncQ3 2020
United KingdomManchester United PLCQ4 2020
USALas Vegas Sands CorpQ3 2020
SwedenTelefonaktiebolaget LM EricssonQ3 2020
GermanySoftware AGQ3 2020
SpainIberdrola SAQ3 2020
SwedenSaab ABQ3 2020
NorwayStorebrand ASAQ3 2020
Kingdom of the NetherlandsRandstad NVQ3 2020
Kingdom of the NetherlandsAkzo Nobel NVQ3 2020
SwedenTelia Company ABQ3 2020
NorwayTelenor ASAQ3 2020
USANetflix IncQ3 2020

Thursday, October 22nd 2020

Country of originCompany nameFiscal period
USAIntel CorpQ3 2020
USAGilead Sciences IncQ3 2020
USAVerisign IncQ3 2020
USAMattel IncQ3 2020
USACapital One Financial CorpQ3 2020
USAKimberly-Clark CorpQ3 2020
USACoca-Cola CoQ3 2020
USAAmerican Airlines Group IncQ3 2020
USAFifth Third BancorpQ3 2020
USAPatterson-UTI Energy IncQ3 2020
USAAmerican Electric Power Company IncQ3 2020
USAGNC Holdings IncQ3 2020
USAValero Energy CorpQ3 2020
IsraelCheck Point Software Technologies LtdQ3 2020
USANucor CorpQ3 2020
USAFreeport-McMoRan IncQ3 2020
USACitrix Systems IncQ3 2020
USAAT&T IncQ3 2020
USANorthrop Grumman CorpQ3 2020
USASirius XM Holdings IncQ3 2020
USAEntegris IncQ3 2020
USAUnion Pacific CorpQ3 2020
USACerner CorpQ3 2020
SwitzerlandSTMicroelectronics NVQ3 2020
NorwayPGS ASAQ3 2020
NorwayDnb ASAQ3 2020
SwedenSkandinaviska Enskilda Banken ABQ3 2020

Friday, October 23rd 2020

Country of originCompany nameFiscal period
USAAmerican Express CoQ3 2020
USAIllinois Tool Works IncQ3 2020
JapanFujitsu General LtdQ2 2021
GermanyDaimler AGQ3 2020
FinlandNordea Bank AbpQ3 2020
United KingdomBarclays PLCQ3 2020
SwedenElectrolux ABQ3 2020
SwitzerlandAbb LtdQ3 2020
BelgiumOrange Belgium SAQ3 2020
NorwayNorsk Hydro ASAQ3 2020

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