Goldman Sachs reports Q2 revenue of $15.39 billion with EPS of $15.02


Goldman Sachs Group Inc (NYSE: GS) reported on Tuesday that the net revenue in the second quarter of 2021 was $15.39 billion, 16% higher than it was in the second quarter of 2020. The company further announced that it increased the quarterly dividend to $2 per common share and said earnings per common share in Q2 were $15.02.

Key takeaways

"While the economic recovery is underway, our clients and communities still face challenges in overcoming the pandemic."

"Net revenues in global markets were $4.90 billion for the second quarter of 2021, 32% lower than the second quarter of 2020."

"Net revenues in investment banking were $3.61 billion for the second quarter of 2021, 36% higher than the second quarter of 2020."

"Provision for credit losses was a net benefit of $92 million for Q2 2021, compared with net provisions of $1.59 billion for Q2 2020."

"Quarterly net revenues in equities were $2.58 billion, 12% lower than the second quarter of 2020."

"Net revenues in consumer & wealth management were $1.75 billion for the second quarter of 2021, 28% higher than the second quarter of 2020."

"Firm’s allowance for credit losses was $4.09 billion as of June 30, 2021."

"Operating expenses were $8.64 billion for the second quarter of 2021, 17% lower than the second quarter of 2020."

"Net provisions for litigation and regulatory proceedings for Q2 2021 were $226 million compared with $2.96 billion for Q2 2020."

"Quarterly investment banking net revenue increase reflected higher net revenue in financial advisory and corporate lending and in underwriting."

"Quarterly net rev in consumer banking higher reflecting higher deposit and credit card balances."

Market reaction

Following these results, Goldman Sachs Group Inc (NYSE: GS) shares were up 0.53% in premarket at $382.50.

 

 

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