Data Show the Economy Is Booming. Wall Street Thinks Otherwise.

Investment bank Goldman Sachs reported a decline in its third-quarter revenue, falling short of analyst expectations. The bank’s revenue dropped by 15% compared to the same period last year, totaling $8.32 billion. The decline was primarily attributed to weaker performance in the bank’s fixed income trading and investment banking divisions. However, the bank’s earnings per share (EPS) exceeded estimates, coming in at $9.68 per share, higher than the projected $5.57 per share. The bank’s CEO expressed confidence in their long-term prospects, citing strong fundamentals and a solid business franchise.

Investment bank Goldman Sachs experienced a decline in Q3 revenue, which fell short of expectations. Revenue decreased by 15% to $8.32 billion compared to the same period last year, primarily due to weaker performance in fixed income trading and investment banking. However, the bank exceeded earnings per share estimates with $9.68 per share, showing confidence in their long-term prospects.