Goldman Sachs’ Financial Results Beat Estimates
U.S. investment bank Goldman Sachs (GS) has delivered second-quarter financial results that beat Wall Street estimates on the top and bottom lines.
The better-than-expected results were fueled by the bank’s trading operations, which generated $840 million U.S. more revenue than analysts had expected.
Goldman Sachs reported earnings per share (EPS) of $10.91 U.S., which topped the $9.53 U.S. consensus expectation of analysts.
Revenue in the quarter came in at $14.58 billion U.S., which was ahead of the $13.47 billion U.S. forecast on Wall Street.
Management said Goldman’s second quarter profit rose 22% from a year earlier, while revenue increased 15%.
The investment bank’s trading desks have benefited from U.S. President Donald Trump’s tariffs, which have roiled markets for bonds, currencies, commodities, and stocks in recent months.
Goldman Sachs, which relies more on trading and dealmaking than many of its Wall Street peers, is known to have outsized returns during boom times in the market.
Management acknowledged as much, saying that most of the quarterly revenue came from equities trading, which generated $4.3 billion U.S. in revenue, a 36% jump from a year ago.
Fixed income trading revenue rose 9% during Q2 to $3.47 billion U.S. on higher financing fees and more activity in currency and credit markets, topping expectations by $190 million U.S.
GS stock has risen 22% this year to trade at $702.51 U.S. per share.
