21 OCT 2024

Do Goldman Sachs' Recent Revenue Numbers Defy the New Normal?

Goldman Sachs is strutting its stuff in Q3 2024, showcasing a 20% profit surge to $1.87 billion, fueled by robust equity income and M&A activity, even as retail takes a breather. While other banks may be fretting about a potentially scary “new normal,” Goldman is proving that a little market turbulence can actually be a goldmine. With a staggering $12.7 billion in revenue that surpassed expectations, their equities division raked in $2.2 billion, blowing past forecasts by a slick 30%. It seems the recent hurricane of economic chaos didn’t wash away their mojo; instead, they've capitalized on it, ready to ride the wave and keep an eye on future deals as if it were 2021 again! This impressive performance suggests that perhaps a feared “new normal” might not be as daunting after all.