Goldman Sachs Earnings Surge 150% to $3 Billion on Strong Fixed-Income Trading

Jul 15, 2024, 12:01 PM

Goldman Sachs reported a significant surge in earnings for the second quarter, driven by robust debt underwriting and a strong performance in fixed-income trading. The company's profit more than doubled to $3 billion, marking a 150% increase from the previous year. This growth was fueled by better-than-expected results in its trading unit, particularly in fixed-income and equity trading, which outpaced analysts' estimates. The Wall Street bank's earnings were also bolstered by an accelerating recovery in dealmaking and higher fees from debt underwriting. Goldman Sachs's net income surged 150%, and its stock, $GS, gained in premarket trading.