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.
"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."
Following these results, Goldman Sachs Group Inc (NYSE: GS) shares were up 0.53% in premarket at $382.50.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.