Goldman Sachs exceeded expectations for third-quarter profit, driven by higher advisory fees and strong markets. Investment banking fees surged 42% to $2.66 billion. CEO David Solomon emphasized the bank’s focus on executing strategic priorities. Global M&A volumes hit $3.43 trillion, with the U.S. accounting for nearly half. Asset and wealth management revenue rose 17%, marking the first quarterly gain this year.

Goldman was involved in major IPOs like Figma and Klarna. Quarterly profit reached $4.1 billion, exceeding Wall Street predictions. Analysts attribute the success to robust stock prices and reduced regulatory burdens. Executives are optimistic about dealmaking. Revenue from asset management rose 17%, with a focus on steadier fee-based revenue. The bank set aside $339 million for credit losses.

Wall Street trading desks benefited from record volatility, with Goldman’s equities trading revenue up 7% and fixed income revenue up 17%. Despite a calm quarter, the bank’s shares have climbed over 37% this year, outperforming other big U.S. banks. Goldman remains focused on strong risk management in a changing market environment.

Read more at Yahoo Finance: Goldman’s profit beats estimates as dealmaking rebound boosts investment banking