Goldman Sachs thrives on global dealmaking frenzy to post bumper profit

Goldman Sachs Group Inc reported a surge in third-quarter earnings on Friday, as Wall Street's biggest investment bank rode a record wave of dealmaking activity that has boosted profits at other large U.S. banks too.

Net earnings applicable to common shareholders rose to $5.28 billion in the quarter ended Sept. 30, from $3.23 billion a year ago.

Earnings per share rose to $14.93 from $9.68 a year earlier. Analysts on average had expected a profit of $10.11 per share, according to the IBES estimate from Refinitiv.

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