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Goldman Sachs Group Inc. (NYSE:GS) reported better-than-expected results for its second quarter on Monday.
Goldman posted revenue of $12.730 billion for the second quarter, beating the consensus of $12.456 billion. The U.S. financial services giant reported GAAP EPS of $8.62, beating the consensus of $8.35, according to data from Benzinga Pro.
Global Banking & Markets revenues were $8.18 billion, up 14% year over year. Asset & Wealth Management revenue was $3.88 billion for the second quarter of 2024, 27% higher than last year.
Provision for credit losses was $282 million for the second quarter, compared with losses of $615 million a year ago, reflecting net provisions related to the credit card portfolio (driven by net charge-offs).
David Solomon, Chairman and CEO, said, “We are pleased with our solid second-quarter results and our overall performance in the first half of the year, reflecting strong year-on-year growth in both Global Banking & Markets and Asset & Wealth Management.”
Goldman Sachs shares gained 2.1% to trade at $502.27 on Tuesday.
These analysts made changes to their price targets on Goldman Sachs after the company reported quarterly results.
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Posted In: GS