Goldman Sachs Exceeds Expectations in Q2: Revenue and EPS Surpass Estimates, Investment Banking Fees Increase by 21%, Announces Dividend Hike - NYSE:GS

Money | July 16, 2024, 3:24 a.m.

Goldman Sachs Group Inc. reported strong second-quarter revenue of $12.73 billion, surpassing expectations. Global Banking & Markets saw a 14% increase in revenue, driven by a 21% rise in investment banking fees. Asset & Wealth Management revenue rose 27% year over year. The company also reported a 17% increase in FICC net revenues. Goldman Sachs exceeded earnings per share estimates with $8.62. Provision for credit losses decreased significantly compared to the previous year. The Board of Directors raised the quarterly dividend to $3.00 per share. The company also returned $3.50 billion through share repurchases. CEO David Solomon praised the strong performance and highlighted the success of the One Goldman Sachs approach in serving clients. Despite the positive results, GS shares were down slightly in premarket trading.