**Goldman Sachs Reports Q3 Profit Surge Amid Investment Banking Rebound**

Goldman Sachs announced a significant rise in third-quarter profits, exceeding market expectations and spurring a more than 3% uptick in its share price. The banking giant's performance was bolstered by a revival in bond sales, stock offerings, and mergers, with investment banking fees showing a notable increase.

The bank's CEO, David Solomon, indicated substantial latent demand from clients, noting that Goldman’s advisory business was driving a growing deal backlog. With robust U.S. job and wage growth underpinning economic stability and an interest-rate cut by the Federal Reserve encouraging corporate transactions, the bank's leveraged finance and investment-grade activities saw a substantial boost in revenue.

Investment banking fees surged by 20% to $1.87 billion in the third quarter, attributed to an increase in debt underwriting driven by leveraged finance, and higher revenue from equity underwriting due to numerous secondary share sales. According to Stephen Biggar, a banking analyst at Argus Research, this illustrates a strong recovery in capital markets that shows enduring potential.

Goldman also played a crucial role in the nearly $36 billion acquisition deal by Mars, the largest U.S. deal of the year. CFO Denis Coleman highlighted the rising client demand for acquisition financing, anticipating continued growth alongside increasing M&A activity. Although private equity activity is on the rise, it remains below expectations.

Despite a sharp decline in earnings from its consumer business last year, Goldman managed to deliver a 45% jump in total profit, amounting to $2.99 billion, or $8.40 per share, surpassing the expected $6.89 per share. The bank has since refocused on its core investment banking and trading operations.

Revenue from fixed income, currency, and commodities trading decreased by 12%, while equities trading saw an 18% increase. Additionally, the asset and wealth management unit, catering to institutions and wealthy clients, recorded a 16% revenue increase from last year, overseeing a record $3.1 trillion in assets during the quarter.

The bank's headcount reached 46,400 by the end of September, up from 44,300 in June and 45,900 a year prior. Despite these accomplishments, Goldman set aside $397 million in provisions for credit losses due to its credit card portfolio, a stark contrast to the mere $7 million reserved a year ago.