الخميس, 18 تموز/يوليو 2024 03:06

Bond Performance Drives Strong Quarter For Goldman

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Goldman Sachs exceeded profit and revenue estimates with $8.62 earnings per share and $12.73 billion in revenue, driven by strong fixed income results and reduced loan loss provisions. The bank’s Q2 profit surged 150% to $3.04 billion compared to the previous year. 

 

Fixed income revenue rose 17% to $3.18 billion, while provisions for credit losses fell significantly. The asset and wealth management division saw a 27% revenue increase, and platform solutions revenue rose 2%.

 

However, investment banking fees were slightly below expectations, unlike rivals JPMorgan and Citigroup. Shares of Goldman Sachs increased by more than 1% in midday trading.


Finsum: This is evidence of the good climate for fixed income markets during extreme economic stress. 

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