NEW YORK, Oct. 17 (Xinhua) -- Goldman Sachs Tuesday reported a profit of 1.52 billion U.S. dollars for the third quarter of 2013, benefited from investment bank business and costs cut, beating analysts' estimates.
Its third-quarter net earnings increased from 1.5 billion U.S. dollars a year earlier. Earnings per share for the third quarter, which analysts expected to be 2.43 dollars, stood at 2.88 dollars, up from 2.85 dollars in the same time period of last year.
Net revenue, including net interest income, fell 20 percent to 6.72 billion dollars. The bank raised its quarterly dividend by five cents to 55 cents a share.
Goldman Sachs continued its leadership in investment banking, ranking first among worldwide announced and completed mergers and acquisitions for the year-to-date. Net revenues in Investment Banking were 1.17 billion dollars, essentially unchanged compared with the third quarter of 2012.
"The third quarter's results reflected a period of slow client activity," said Lloyd C. Blankfein, chairman and chief executive officer in the statement.
"Still, we saw various signs that our clients are prepared to act on significant transactions and we believe that the firm is well positioned to help our clients accomplish their objectives," he said.
As longer term U.S. budget issues are resolved, the company could see an improvement in corporate and investor sentiment that would help lay the basis for a more sustained recovery, he added.
Goldman Sachs share traded in New York was around 158 dollars about half an hour after the opening bell.