Goldman Sachs 3Q profit rose 18 percent, topping estimates

NEW YORK (AP) - Goldman Sachs Group Inc. says third-quarter earnings rose 18 percent to $2.52 billion.

The company, based in New York, says it had earnings of $6.28 per share, up from $5.02 in the year-ago quarter.

The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $5.42 per share.

The investment bank posted revenue of $8.65 billion in the period, up from $8.33 billion a year ago, and topping Street forecasts.

Goldman shares have dropped 16 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen nearly 3 percent. Shares rose 1.3 percent in premarket trading

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This story was partly generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GS at https://www.zacks.com/ap/GS