Goldman Sachs Group's stock trading division's third-quarter results exceeded expectations, while revenue from the fixed income and interest rate trading business fell far short of Wall Street estimates. According to the bank's announcement on Tuesday, the stock trading business had revenue of US$6.44 billion in the three months ending September. The business set a single-quarter banking record for the third consecutive quarter in July. Although this quarter's revenue was lower than the historical peak of $7.42 billion in the second quarter, it was still higher than analysts' expectations aggregated by Bloomberg. The revenue from the fixed income and commodity trading business was US$3.47 billion, which was significantly lower than market expectations, with a slight decrease of nearly 1% over the previous year. CEO David Solomon warned in September that business would weaken this quarter. The merger and acquisition business drove Goldman Sachs's growth in the third quarter, with investment bank fee revenue of US$3.22 billion, higher than market expectations. The asset management department's management fee revenue also hit a new high. Goldman Sachs shares have remained flat as a whole this year.

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