Goldman's Gold is Trading
Goldman Sachs' earned $3.19 billion in the third quarter, led by booming sales from its trading division, which accounted for 85.3 percent of all sales
Net revenues in the Trading and Principal Investments unit were $10.03 billion, up from $2.70 billion in the same quarter last year.
Net revenues in Fixed Income, Currency and Commodities (FICC) were $2.73 billion, compared with 1.60 billion
Goldman Sachs revenues by unit:
Unit revenue/percent change from 2008 Q3
Investment banking, $899 million / -31 pct
Trading and Principal Investments, $10.33 billion / +383 pct
Asset Management and Securities Services $1.45 billion / -29 pct
Each share of Goldman earned $5.25 per share for the quarter compared with a $1.81 per share gain in the same quarter a year ago. Earnings also rose compared with the second quarter which had $4.93 per share.
Annualized return on average common shareholders' equity was 21.4 percent for the third quarter of 2009.
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