On October 14, Jin10 reported that Goldman Sachs (GS.N) announced on Tuesday a quarterly profit surge of over 37%, benefiting from rising advisory fees in investment banking and traders profiting in a vibrant market. As companies restart their merger and acquisition and IPO plans, Goldman Sachs' prediction of a 'booming trading year' has become a reality. Investment banking revenue in the third quarter rose to $2.66 billion, up from $1.87 billion in the same period last year. The growth was mainly driven by a 60% surge in advisory fees. According to Dealogic data, the total value of global merger and acquisition transactions exceeded $3.43 trillion in the first nine months of this year, with nearly 48% originating from the United States. The average size of global and U.S. merger and acquisition deals during this period is the highest since 2015, consistent with Goldman Sachs CEO Solomon's predictions last year. Goldman Sachs participated in the underwriting of several high-profile IPO projects this quarter, including design software company Figma, Swedish fintech company Klarna, and space technology company Firefly Aerospace.
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