Here are the numbers:
Gains: $ 15.02 per share vs. $ 10.24 expected by analysts polled by Refinitiv. A year ago, Goldman recorded EPS of $ 6.26 (53 cents per share if you factor in costs related to the 1MDB settlement.)
Returned: $ 15.39 billion against $ 12.17 billion expected
The investment bank posted its second-highest income quarter in history, behind the first quarter of 2021, as a booming IPO market boosted underwriting for Goldman shares.
The investment bank’s net income totaled $ 3.61 billion, ahead of the consensus estimate of $ 3 billion, according to FactSet. Goldman said the second quarter had the second best performance in financial advice, stock underwriting and debt underwriting. The order book increased significantly compared to the end of 2020, ending the quarter at a record high, the bank said.
Since the start of the year, the New York-based bank has ranked number one in global mergers and acquisitions, global equity and equity offerings, common share offerings and initial public offerings.
Goldman’s trading activity experienced an expected slowdown in the last quarter with net revenues of $ 4.90 billion, compared to $ 7.58 billion in the first quarter of 2021. The sum in the second quarter was split between 2.23 billion in stocks and $ 2.58 billion in fixed income, both of which are slightly above estimates, according to FactSet.
Its asset management generated record quarterly net income of $ 5.13 billion in the second quarter, driven by record sales of equity investments.
Goldman also announced that its board of directors is forecasting a 60% increase in the quarterly dividend to $ 2 per share from the third quarter of 2021.
Goldman shares rose 45% in 2021 in the wake of the economic recovery from the Covid-19 pandemic.
This is last minute news. Please check for updates.
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