Goldman Sachs reported its second-quarter earnings before the bell on Tuesday.
Here are the numbers:
Earnings: $15.02 per share vs. $10.24 expected by analysts polled by Refinitiv. A year ago, Goldman recorded an EPS of $6.26 (53 cents per share if accounted for costs related to the 1MDB settlement.)
Revenue: $15.39 billion vs. $12.17 billion expected
Investment banking posted its second-highest revenue quarter ever with $3.61 billion, behind the first quarter of 2021, as a booming IPO market boosted Goldman's equity underwriting.
Last month, following the strong results of the Federal Reserve'sannual stress test, Goldman said it planned on boosting its dividend by 60% to $2 per share, subject to approval from the bank's board.
For its first quarter of 2021, the New York-based bankblew past analysts' expectationswith record net profits and revenues on strong performance from the firm's investment banking and trading businesses, thanks to a rise in retail banking fueled by cheap consumer deposits.
Of the six biggest U.S. banks, Goldman gets the largest share of its revenue from Wall Street activities including trading and investment banking.
Shares of Goldman have risen 45% in 2021 on the back of the economic recovery from the Covid-19 pandemic.
Goldman Sachs shares rises 0.7% in premarket trading.
