Goldman Sachs outperforms Morgan Stanley in investment banking and asset management, but Morgan Stanley has stronger fundamentals and credit rating. Read more here.

(Reuters) - Goldman Sachs' profit jumped 45% in the third quarter as the investment bank benefited from a rebound in dealmaking. It joined JPMorgan Chase, which also gained from an investment banking revival, as corporate clients became more confident in the economic outlook, spurring debt and equity offerings.

Goldman Sachs reported better-than-expected Q3 earnings, driven by strong investment banking and trading revenues. Analysts raise price targets and remain optimistic about future growth.

Bank of America separately reported its latest earnings on Tuesday, and in keeping with theme it beat analyst forecasts. Although its profit in the third quarter fell more than 10 percent from the same period last year, the decline was not as steep as expected, bolstered by a jump in trading revenue and investment-banking fees.

Goldman Sachs showcases solid Q3 2024 earnings with growth in key segments despite credit loss provisions rising.

Goldman Sachs' third-quarter profit beat estimates, fueled by a rebound in bond sales, stock offerings and mergers, sending its shares up more than 3% in premarket trading. It joined JPMorgan Chase, which also gained from an investment banking revival,

While Goldman Sachs has made efforts under CEO David Solomon to diversify its revenue stream, it is Wall Street that powers the company.