Goldman Sachs' third-quarter equity trading revenue reached $6.44 billion, far exceeding Wall Street expectations.

BlockBeats news, October 13 - Goldman Sachs Group's third-quarter equities trading business significantly outperformed expectations, but fixed income and rates trading revenue fell well short of Wall Street forecasts.

Goldman Sachs' statement released on Tuesday showed that equities trading revenue reached $6.44 billion in the three months through September. The business's second-quarter revenue announced in July set a global banking record for the third consecutive quarter. Although third-quarter revenue was below the record high of $7.42 billion set in the second quarter, it still exceeded aggregated analyst estimates. Fixed income and commodities trading revenue was $3.47 billion, far below expectations and down nearly 1% year-over-year.

Goldman Sachs CEO David Solomon had warned in September that third-quarter business performance would slow. Deal-making activity drove Goldman Sachs' third-quarter growth, with investment banking fee revenue reaching $3.22 billion, above expectations. The bank's asset management division also posted a record high in management fee revenue.