The Goldman Sachs CEO, David Solomon, speaks during the day of Goldman Sachs investors at the Goldman Sachs headquarters in New York City, USA, February 28, 2023.
Brendan McDermid | Reuters
Goldman Sachs On Wednesday, he published results that exceeded expectations since their commercial operations generated $ 840 million in revenues than analysts expected.
This is what the company reported:
- Earnings: $ 10.91 per share compared to $ 9.53 per expected action, according to LSE
- Revenue: $ 14.58 billion compared to $ 13.47 billion expected
The bank said that the gain of the second quarter increased 22% compared to the year before $ 3.72 billion, or $ 10.91 per share. Income increased 15% to $ 14.58 billion, approximately $ 1.1 billion more than estimate.
Trade desks on Wall Street have benefited this year, since the tariff policies of President Donald Trump have markets for bonds, currencies, products and actions. It is known that Goldman Sachs, which depends more on the activities of Wall Street than his teammates, has ruled out the returns overcome during boom.
Most of the trimester's income rhythm came from the variable income negotiation, which generated $ 4.3 billion in revenue, a 36% leap compared to the previous year and $ 650 million more than the analysts surveyed by expected streetaccc
The bank prospered in its role as an intermediary in the world of shares, connecting buyers and sellers of shares, as well as a lender to institutional investors.
Fixed income negotiation revenues increased 9% to $ 3.47 billion in higher financing rates and more activity in currency and credit markets, exceeding Streetacount estimate at $ 190 million.
The activity of the investment in the quarter exceeded expectations in rivals as JPMorgan Chase Thanks to a strong rebound in the values of the assets of the minimum of April.
Goldman said that investment banking rates increased by 26% compared to the year prior to $ 2.19 billion as more advisory agreements were closed; That route is $ 290 million more than the estreetacount estimate.
The Bank's asset and heritage management division was the only disappointment in the quarter. It generated $ 3.78 billion in revenues, 3% lower than a year earlier and $ 100 million below the estreetacount estimate. The decrease came from lower profits in private capital participations and debt investments, Goldman said.
Finally, the smallest division of the firm, its platform solutions, saw an increase in income of 2% to $ 685 million, exceeding the estreetacount estimate at approximately $ 12 million.
Bank's shares have risen 23% this year before Wednesday.
On Tuesday, JPMorgan, Citigroup and Wells Fargo Each published results that exceeded the expectations of profit and income analysts. On Wednesday, Morgan Stanley reported equally strong commercial results and Bank of America It became the only main bank of the United States in not reaching income expectations for the period.
