Gs Beats Q2 Earnings Forecast

last updated on

Gs Beats Q2 Earnings Forecast

Goldman Sachs Beats Q2 Earnings Forecast

Goldman Sachs (GS) has managed to deliver strong earnings for Q2 & surpassed the forecasts made by the experts. Goldman Sachs (GS)'s EPS and revenue numbers were stellar & showed strong growth during Q2.

According to the results, the EPS of Goldman Sachs (GS) was around $8.62, higher than the forecast of $8.36. Similarly, the revenue during Q2 was $12.73 billion, a lot higher than the forest of $12.35 billion.

Goldman Sachs (Gs) Revenue Up By 17%

Overall, the revenue for Q2 shows a jump of 17% from Q2 last year and shows the strong y/y growth of Goldman Sachs (GS). Some analysts believe that this is due to the company's achievements in the field of asset/wealth management and global banking.

Through these areas, Goldman Sachs (GS) has earned a record revenue in the form of management & other fees. At the same time, the amount of assets under the supervision of Goldman Sachs (GS) has gone up by $86 billion during Q2.

Right now, the company is supervising a collective asset of $2.93 trillion, a record high for Goldman Sachs (GS) & even other companies.

According to the CEO of Goldman Sachs (GS), they are satisfied with the results, as they highlight that the company has managed strong growth in various sectors.

CEO also commented on how the company has used its full set of services to further enhance client relationships. This has allowed them to post strong growth despite the difficult market environment.

Although the Goldman Sachs (GS) revenue and earnings were above the forecast, the Goldman Sachs (GS) stock only gained 0.85%.

Going forward, Goldman Sachs (GS) has also announced its plans to increase the dividend to $3.00 from an earlier amount of $2.75. The said amount of dividend will be paid to the shareholders by the end of September 2024.

Overall, Goldman Sachs (GS) has once again shown its strength by posting really good results despite the challenging market environment. At the same time, the company has also diversified its revenue streams to grow its revenue during Q2.

Trending Stories