Goldman Sachs has reported the earnings of the third quarter, and has surpassed the analysts’ expectations. It has indeed survived the rough times of the financial crisis with billions of dollars pouring in from the federal government.

The earnings of $ 3.19 is said to be due to the mergers and acquisition fees and also better securities trading. The analysts had predicted the value of the Goldman Sachs’ share at $4.18 per share or $2.34 billion. The current rate going at $ 5.25 a share clearly indicates that the bank has begun to show some signs of stability and the financial conditions are improving at a steady rate.

Goldman Sachs has also declared that it has kept aside $ 5.35 billion for the annual bonus. With the bank receiving federal aid of billions, this continues to be a controversial topic. The bank asserts that it needs to retain its employees and it is essential. Goldman Sachs has returned $10 billion to the federal government earlier this year.

Another Wall Street bank, JPMorgan Chase announced profit of $3.6 billion for the third Quarter.

Via: NyTimes