Goldman Sachs (GS) reported third-quarter earnings that were better than analysts expected Tuesday morning, continuing a stretch of strong big bank earnings kicked off last week by rivals 澳洲幸运5官方开奖结果体彩网:JPMorgan Chase (JPM) and 澳洲幸运5官方开奖结果体彩网:Wells Fargo (WFC).

The shares edged higher in early trading after the firm reported $12.7 billion in total revenue, above the $11.82 billion Goldman reported a year ago and ahead of analysts' consensus as compiled by Visible Alpha.

澳洲幸运5官方开奖结果体彩网:Net interest income (NII) came in at $2.62 billion, up from $1.55 billion a year ago and better than the $1.95 billion analysts had projected. Goldman's profits came in just shy of $3 billion, nearly half a billion better than analysts expected and up from $2.06 billion in the third quarter of 2023.

The KBW Banking Index (BKX) was recently up 0.4%.

Goldman𝄹 Extends Stretch of Banks Beating Estimates

Goldman reported Tuesday 澳洲幸运5官方开奖结果体彩网:alongside Bank of America (BAC), which also surpassed estimates. On Friday JPMorgan turned in 澳洲幸运5官方开奖结果体彩网:estimate-beating results, while Wells Fargo saw profits dropꦯ less year-over-year than analysts had expected.

The financial-sector results come weeks after the Federal Reserve 澳洲幸运5官方开奖结果体彩网:cut interest rates for the first time in four years. 澳洲幸运5官方开奖结果体彩网:Analysts have said the first rate cut, and others likely to come in the next year, could help boost future bank earnings by lowering 🅰deposit costs and sparking acti꧙vity like mergers and acquisitions.

Goldman Sachs shares are up over 35% this year through Monday's close.