Goldman Sachs Q2 Earnings Surge 150% to $3 Billion on Fixed-Income Trading, Debt Underwriting

Jul 16, 2024, 10:55 AM

Goldman Sachs reported a significant surge in its second-quarter earnings, driven by robust performance in fixed-income trading and debt underwriting. The company’s earnings per share (EPS) reached $8.62, surpassing the forecast of $8.36, while revenue stood at $12.73 billion, exceeding the expected $12.35 billion. The profit more than doubled to $3 billion, reflecting a 150% increase from the previous year, aided by a Wall Street rebound. CEO David Solomon expressed satisfaction with the results, highlighting strong year-on-year growth in Global Banking & Markets and Asset & Wealth Management. The positive earnings report led to a 0.7% increase in Goldman Sachs' stock price in pre-market trading.