Goldman earnings rise 51% as bank beats

Getty/Bryan BedderLloyd Blankfein onstage at a conference hosted by The New York Times.
  • Goldman Sachs posted its best second-quarter revenue results in nine years.

Goldman Sachs announced second-quarter results Tuesday morning while posting earnings of $US5.98 a share. Analysts had expected earnings of $US4.66.

Here are the key numbers:

  • Revenue: $US9.4 billion, up 19% from last year. It was the best second-quarter revenue results in nine years.
  • Net income: $US2.57 billion, up 40% from last year, when results suffered from a poor trading performance.
  • Return on equity: First-half ROE rose to 14.1%.
  • Institutional client services: Revenue from sales and trading activities rose 17% to $US3.57 billion. Equities was flat at $US1.89 billion, while fixed income, currencies, and commodities revenue rose 45% to $US1.68 billion.
  • Investment banking: Revenue rose 18% to $US2.05 billion, led by a 88% surge in equity underwriting revenue.
  • Investment management: Revenue rose 20% to $US1.84 billion.
  • Investing and lending: Revenue rose 23% to $US1.94 billion.

“Solid performance across all of our major businesses drove the strongest first-half returns in nine years,” Goldman Sachs CEO Lloyd Blankfein said in a statement. “With a healthy economic backdrop and deep client franchises, the firm is well-positioned to invest in attractive opportunities to meet the needs of our clients and continue to generate earnings growth.”

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