Goldman Sachs posts bumper profits after dealmaking surge

Core Insights - Goldman Sachs reported record third-quarter results, achieving revenues of $15 billion and earnings per share of $12.25, surpassing forecasts of $14.1 billion in revenues and $11 in earnings per share [1][3] Financial Performance - The investment banking division generated $2.6 billion in fees, contributing significantly to the overall performance [1] - The company's stock price increased by 37% this year, reflecting strong market confidence [5] Strategic Moves - Goldman Sachs announced plans to acquire Industry Ventures, a venture capital firm managing $7 billion in assets, for $665 million in cash and equity, with potential additional payments based on future performance [5][6] - The acquisition is expected to close early next year, indicating a strategic expansion into venture capital [6] Market Environment - CEO David Solomon highlighted that the results reflect the strength of the client franchise and the execution of strategic priorities in an improved market environment [4] - Trading desks benefited from market volatility caused by tariff policies, impacting various asset classes [4]