Goldman equity traders top estimates as fixed income falls short

Skip to Content News Archives Economy Defence Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Defence Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Defence Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials This advertisement has not loaded yet, but your article continues below.HomeFinanceBankingGoldman equity traders top estimates as fixed income falls shortFixed-income and commodities traders brought in US$3.47 billion, significantly lower than expectedAuthor of the article:Goldman Sachs Group Inc. signage on the floor of the New York Stock Exchange (NYSE) in New York, U.S. on July 16, 2025. Photo by Michael Nagle/BloombergGoldman Sachs Group Inc.’s equities traders blew past expectations in the third quarter, while its fixed-income and rates-trading counterparts fell far below Wall Street’s estimates.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountThe company’s equities traders, who in July posted a record of any bank for a third straight quarter, reported revenue of US$6.44 billion for the three months through September, according to a statement Tuesday. That’s lower than the all-time high, from the second quarter, of US$7.42 billion, but still beat the expectations of analysts compiled by Bloomberg.This advertisement has not loaded yet, but your article continues below.Fixed-income and commodities traders brought in US$3.47 billion, significantly lower than expected and an almost one per cent drop from a year earlier, after Chief Executive Officer David Solomon warned in September of a slower quarter.Breaking business news, incisive views, must-reads and market signals. Weekdays by 9 a.m.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Posthaste will soon be in your inbox.We encountered an issue signing you up. Please try againGoldman’s dealmaking machine helped drive growth in the third quarter, with its investment bankers bringing in a higher-than-expected fee haul of US$3.22 billion. The bank’s asset-management unit also drew record management fees.Goldman, whose share price is little changed this year, has led the rebound in Wall Street dealmaking while also pulling in billions of dollars from trading around volatile equity and fixed-income markets. Like peers, it’s seen its share price retreat in the face of rising bond yields weighing on capital-markets activity.If Goldman’s share price holds up, a fleet of its top executives are in line for a collective payout in excess of US$500 million later this month.The bank’s incentive fees surged almost eightfold from a year earlier to US$587 million. That was tied to arranging bets for its wealth clients on SpaceX during its early funding rounds, Bloomberg News reported this month. Goldman’s revenue from those fees far surpassed the price it was paid for advising on the record IPO.Goldman also made two key acquisitions in the quarter to expand its more than US$4 trillion asset-management division. It bought exchange-traded fund provider NEOS Investments for US$2.25 billion and LCN Capital Partners, a commercial real estate investor, for as much as US$410 million.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.