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Goldman Sachs' profits more than double, despite pandemic

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NEW YORK – Goldman Sachs said its profits more than doubled from a year earlier thanks to a surge in both trading and advising revenue.The New York-based investment bank said it earned a profit of $4.36 billion, or $12.08 per share, up from a profit of $1.72 billion, or $4.69 a share, in the same period a year earlier.

The earnings were significantly better than the $7.45-per-share profit that analysts were expecting.Goldman's results reflect that Wall Street had a strong year, despite the pandemic and millions of Americans out of work.

After plunging sharply in March and April, the stock market went basically straight up for seven months as investors tried to look beyond the near-term death and pain and focus on where the U.S.

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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