Goldman Sachs Q2 Profit Soars 78% to $6.63B, Revenue Jumps 39%
GS sits 65% above its 52-week low of $691.3.
Summary
Goldman Sachs reported blowout Q2 results: profit surged 78% to $6.63 billion on revenue of $20.34 billion, up 39% from a year ago. Equity underwriting fees more than doubled, fueled by the SpaceX IPO. The results cap a string of strong bank earnings, with JPMorgan also posting a 41% profit jump. Cooler-than-expected June CPI data (3.5% vs. 3.8% expected) added to the positive tone, though IBM's profit warning dragged on tech. Fed Chair Warsh called the inflation data 'positive' but cautioned against declaring victory. Goldman's stock is trading near its 52-week high, reflecting the market's bullish reaction to the earnings beat and the broader macro tailwinds.
At the time of this announcement, GS was trading at $1,139.50 on NYSE in the Finance sector, with a market capitalization of approximately $336.3B. The 52-week trading range was $691.30 to $1,143.84. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.