Investing.com – Shares in Goldman Sachs gained more than 1% in pre-market trade on Tuesday after reporting third quarter earnings that beat consensus.
Goldman Sachs said diluted earnings per common share came in at $4.88 in the three months ended September 30, up from $2.90 a share a year earlier and above expectations for earnings of $3.82 a share.
The bank’s revenue increased by 19.1% to $8.17 billion in the third quarter, compared with the $6.86 billion reported in the same period in 2015, and above estimates of $7.39 billion.
Trading revenue for the quarter came in at $3.75 billion, topping the $3.39 billion estimate.
“We saw solid performance across the franchise that helped counter typical seasonal weakness,” chairman and chief executive Lloyd Blankfein said in the release.
“We continue to manage our balance sheet conservatively and are benefiting from the breadth of our offerings to clients,” he added.
Traders will now turn their attention to the bank’s conference call due to start at 9:30AM ET (13:30GMT).
Following the release of the report, shares in Goldman Sachs (NYSE:GS) rose $2.56, or 1.51%, in pre-market trade to $171.57, from Thursday’s closing price of $169.00.
Meanwhile, U.S. equity markets pointed to a higher open. The blue-chip Dow futures advanced 85 points, or 0.47%, 7:43AM ET (11:43GMT), the S&P 500 futures rose 12 points, or 0.54%, while the tech-heavy Nasdaq 100 futures gained 29 points, or 0.61%.