Goldman Sachs’ profit more than doubled in the second quarter and beat analysts’ estimates on strong debt underwriting and fixed-income trading, but slipped from a bumper first quarter when earnings were the highest since 2021.The resilience of the US economy has given corporate executives the confidence to pursue acquisitions, debt sales and stock offerings.“We are pleased with our solid second quarter results and our overall performance in the first half of the year, reflecting strong year-on-year growth ...

The Goldman Sachs Group, Inc. (NYSE:GS) Q2 2024 Earnings Conference Call July 15, 2024 9:30 AM ET Company Participants David Solomon - Chairman and Chief Executive Officer Dennis Coleman - Chief Financial Officer Conference Call Participants Glenn Schorr - Evercore Ebrahim Poonawala - Bank of America Betsy Graseck - Morgan Stanley Brennan Hawken - UBS Mike Mayo - Wells Fargo Securities Steven Chubak - Wolfe Research Devin Ryan - Citizens JMP Securities Dan Fannon - Jefferies Matt O'Connor - Deutsche Bank Ge ...

Key TakeawaysGoldman Sachs' second-quarter profit more than doubled year-over-year as revenue from investment banking fees and asset management surged.The banking giant's results came in higher than analysts expected, joining other banks like Wells Fargo, JPMorgan Chase, and Citigroup in beating Q2 estimates.Goldman also announced plans to raise its dividend to $3 per share, up from $2.75 per share previously. Goldman Sachs' (GS) efforts to refocus on its Wall Street operations is paying off, as second-quar ...

Goldman Sachs (GS) reported $12.73 billion in revenue for the quarter ended June 2024, representing a year-over-year increase of 16.9%. EPS of $8.62 for the same period compares to $3.08 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $12.6 billion, representing a surprise of +1.04%. The company delivered an EPS surprise of +1.17%, with the consensus EPS estimate being $8.52.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Stre ...

Goldman Sachs (GS) came out with quarterly earnings of $8.62 per share, beating the Zacks Consensus Estimate of $8.52 per share. This compares to earnings of $3.08 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 1.17%. A quarter ago, it was expected that this investment bank would post earnings of $8.54 per share when it actually produced earnings of $11.58, delivering a surprise of 35.60%.Over the last four quarters, the comp ...

Financial Highlights - Net revenues for 2Q24 reached $12.73 billion[2], while year-to-date net revenues totaled $26.94 billion[2] - Net earnings for 2Q24 were $3.04 billion[3], and year-to-date net earnings amounted to $7.18 billion[3] - Earnings per share (EPS) for 2Q24 stood at $8.62[4], with a year-to-date EPS of $20.21[4] - Annualized Return on Equity (ROE) for 2Q24 was 10.9%[5], and the year-to-date ROE was 12.8%[5] - Annualized Return on Tangible Equity (ROTE) for 2Q24 was 11.6%[6], with a year-to-date ROTE of 13.8%[6] Business Segment Performance - Global Banking & Markets reported net revenues of $8.184 billion in 2Q24, a 14% increase compared to 2Q23, and $17.910 billion year-to-date, a 15% increase compared to 2Q23 YTD[9] - Asset & Wealth Management's net revenues were $3.878 billion in 2Q24, a 27% increase compared to 2Q23, and $7.667 billion year-to-date, a 22% increase compared to 2Q23 YTD[9] - Platform Solutions generated net revenues of $669 million in 2Q24, a 2% increase compared to 2Q23, and $1.367 billion year-to-date, a 12% increase compared to 2Q23 YTD[9] Asset & Wealth Management Details - Record Assets Under Supervision (AUS) reached $2.93 trillion[5] - Alternative investments AUS increased by $18 billion to $314 billion[35]

About this content About William Farrington William kickstarted his career as a researcher and reporter for a global legal publication, covering everything from public law to M&A. Before moving to Proactive Investors, he worked as a reporter for a major fintech company with a focus on cryptocurrency and blockchain technology. Harking from Queensland, Australia, William obtained first-class honours in journalism and media from Birkbeck University before going on to complete an MA in creative and critical ...

Wall Street’s Comeback KidAmong the six largest U.S. banks, Goldman Sachs stands out due to its heavy reliance on investment banking and trading for revenue generation. The firm’s performance in these areas is particularly crucial, as they form the backbone of its business model.Solomon’s Strategic ShiftCEO David Solomon has been steering Goldman towards new growth avenues. The asset and wealth management sectors have been earmarked as potential engines for expansion. This quarter’s results will be closely ...

Goldman Sachs is scheduled to report second-quarter earnings before the opening bell Monday.Here's what Wall Street expects:Earnings: $8.34 per share, according to LSEGRevenue: $12.46 billion, according to LSEGTrading Revenue: Fixed Income of $2.96 billion, Equities of $3.17 billion, per StreetAccountInvesting Banking Revenue: $1.80 billion, according to StreetAccountExpectations have been set high for Goldman Sachs, with Wall Street businesses in the midst of a rebound after a dismal 2023.That's because ou ...

The Goldman Sachs Group, Inc. (GS) is slated to release second-quarter 2024 earnings on Jul 15, before the opening bell. GS stock hit a 52-week high on Jul 10 and is currently trading at a two-year high of $478.89. Should you buy it ahead of its second-quarter numbers? Before we analyze the stock’s investment worthiness, it’s time to look at the company’s historical performance and how it is expected to fare this time.Goldman has a decent earnings surprise history. The company’s earnings outpaced the Zacks ...