The Goldman Sachs Group, Inc. (GS) is one of the world’s leading investment bankers & also a securities and investment management firm that offers a wide range of financial services with a diversified client base.
Recently, Goldman Sachs released its Q2 earnings report beating Wall Street’s expectations. The bank performed well in the second quarter as its investment and lending activity surged, reporting a quarterly profit of $5.81 per share on $9.46 billion of revenue in comparison to $5.98 on $9.40 billion for the quarter a year ago. As per Bloomberg consensus forecast, analysts expected a profit of $4.93 per share on revenue of $8.8 billion. Two of the bank’s primary divisions’ investment banking, management, and institutional client services recorded a decline in yearly revenue reporting net revenue of $1.86 billion in investment banking dropping 9% from 2018.
A consistent surge equal to 16% in its investing & lending services accounted for $2.53 billion in Q2 helping the bank maintain its top position as the world’s biggest merger and equity dealer.
“Given the strength of our client franchise, we are well-positioned to benefit from a growing global economy. And, our financial strength positions us to return capital to shareholders, including a significant increase in our quarterly dividend in the third quarter,” CEO David Solomon said in a statement.
A majority vote by Goldman’s board was cast to increase the quarterly dividend from 85 cents per share to $1.25 per common share payable on September 27.
To learn more about The Goldman Sachs Group, Inc. and to continue to track its progress please visit the Vista Partners Goldman Sachs Group, Inc. Coverage Page.
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