- Goldman Sachs Group Inc
- 16 July 2025 14:53:41
Source: Sharecast
Net revenues totalled $14.58bn for the second quarter, up 15% on the same period a year earlier, as strong growth in the Global Banking & Markets division offset lower revenues in Asset & Wealth Management. Analysts had pencilled in a figure closer to $13.6bn.
Net earnings were up 22% over the year at $3.72bn, equating to $10.91 a share, ahead of the $9.69 consensus estimate.
Global Banking & Markets revenues were 24% higher in the second quarter at $10.12bn, driven by 26% growth investment banking fees to $2.19bn and a 36% surge in equities revenues to $4.3bn.
However, net revenues in Asset & Wealth Management were down 3% year-on-year at $3.78bn, due to weaker performances from equity and debt investments.
Meanwhile, in the smaller Platform Solutions, which builds cloud-based financial products and tech platforms into clients' ecosystems, net revenues were up 2% at $685m.
"Our strong results for the quarter reflected healthy client activity levels across our businesses, our differentiated franchise positions and the talent and commitment of our people," said chairman and chief executive David Solomon.
"At this time, the economy and markets are generally responding positively to the evolving policy environment. But as developments rarely unfold in a straight line, we remain very focused on risk management. Given the strategic decisions and investments we’ve made, we continue to believe that the firm is well positioned to perform for our shareholders.”
Goldman's shares were struggling for direction in early trade on Wednesday, but were down 0.7% at $697.01 by 0952 ET.