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Goldman Sachs Reports Strong Q2 Beating Estimates – Raises Dividend

By John F. Heerdink, Jr.

The Goldman Sachs Group, Inc. (GS) reported strong Q2 earnings this week that exceeded Wall Street expectations, riding high in investment banking amid a robust IPO market. The bank reported earnings of $15.02 per share vs. $10.24 expected & Revenues stood at $15.39 billion versus $12.17 billion as expected.

Bank’s investment banking unit posted its second-highest revenue quarter ever, behind the first quarter of 2021. Goldman’s net revenues from investment banking stood at $3.61 billion, ahead of analysts’ estimate of $3 billion. Year to date, Goldman Sachs ranked top in mergers and acquisitions globally, common stock offerings and initial public offerings, worldwide equity and equity-related offerings. Net revenues stood at $4.90 billion in the last quarter, in comparison to $7.58 billion in the first quarter of 2021.

Bank’s asset management unit generated record revenues of $5.13 billion in the second quarter, driven by record sales from equity investments. Goldman also announced that its board approved a planned 60% increase in the quarterly dividend to $2 per share beginning in the third quarter.

 

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. To learn more about The Goldman Sachs Group, Inc. (GS) and to continue to track its progress please visit the Vista Partners Goldman Sachs Group, Inc. (GS), Coverage Page



Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives.

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(Read Original Story: Goldman’s earnings blow past estimates as investment banking revenue boosted by strong IPO market in CNBC)


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