(Reuters) -Goldman Sachs Group Inc reported a 66% surge in third-quarter earnings that swept past expectations on Friday, as Wall Street’s biggest investment bank rode a record wave of M&A activity that has boosted profit at other large U.S. banks too.

The net earnings available to common shareholders increased to $5.28 billion during the third quarter ending Sept. 30, compared to $3.23 billion last year.

The earnings per share increased to $14.93, from $8.98 one year ago. Refinitiv estimates that analysts expected to make $10.11 per share.

Goldman, which earns most of its revenues by consulting on world-class deals, saw a rise in advisory fees this year as big companies and financial sponsors made a number of significant deals.

The total revenue jumped 26% to $13.61 trillion. Investment banking revenues nearly doubled, to $3.55 Billion.

Global M&A volumes have shattered all-time records. Dealmaking is at an unprecedented pace, and advisors have had to deal with volumes of transactions that are unimaginable.

According to data from Refinitiv, the top investment banks worldwide signed deals worth more than $1.5 trillion in September quarter.

Goldman comfortably latched on to its top ranking on the league tables for worldwide M&A advisory, according to Refinitiv. The league tables rank financial services firms on the amount of M&A fees they generate.