David Solomon, chief executive officer of Goldman Sachs & Co., speaks during a Bloomberg Television interview at the Milken Institute Global Conference in Beverly Hills, California, U.S., on Monday, April 29, 2019.
Patrick T. Fallon | Bloomberg | Getty Images
Goldman Sachs reported its second-quarter earnings before the bell on Tuesday.
Here are the numbers:
Earnings: $15.02 per share vs. $10.24 expected by analysts polled by Refinitiv. A year ago, Goldman recorded an EPS of $6.26 (53 cents per share if accounted for costs related to the 1MDB settlement.)
Revenue: $15.39 billion vs. $12.17 billion expected, 8% lower than a year ago
Last month, following the strong results of the Federal Reserve’s annual stress test, Goldman said it planned on boosting its dividend by 60% to $2 per share, subject to approval from the bank’s board.
For its first quarter of 2021, the New York-based bank blew past analysts’ expectations with record net profits and revenues on strong performance from the firm’s investment banking and trading businesses, thanks to a rise in retail banking fueled by cheap consumer deposits.
Of the six biggest U.S. banks, Goldman gets the largest share of its revenue from Wall Street activities including trading and investment banking.
Shares of Goldman have risen 45% in 2021 on the back of the economic recovery from the Covid-19 pandemic.
This is breaking news. Please check back for updates.
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