Goldman Sachs Group Inc. (GS) , in former CEO Lloyd Blankfein’s final quarter as head of the Wall Street firm, said third-quarter profit rose 19% thanks to President Donald Trump’s tax cuts last December.
Net income was $2.524 billion, the New York-based bank said Tuesday, Oct. 16. Earnings per share were $6.28, beating the average analyst estimate of $5.38 in a FactSet survey.
Goldman Sachs had such an abysmal trading performance last year that some analysts began calling for Blankfein to step aside to make way for the next generation of leaders.
