The investment bank Goldman Sachs was pleased, as its operating results not only grew, but at the same time were higher than expected by the market. In the previous trading session, the bank's shares were up: Goldman Sachs 484.00 (0.86%) .
During the last quarter, the mentioned bank managed to earn 3.043 billion. dollars or 8.62 dollars per share of net profit. Profits jumped as much as 150 percent year-on-year after one-time write-offs, while compared to the first quarter of this year, they fell 26 percent.
Analysts were expecting quarterly earnings of $8.34 per share on average.
Goldman Sachs' net income rose seventeen percent and fell ten percent to 12.731 billion, respectively. dollars, and the share of bad loans decreased by 54 and eleven percent to 282 million. dollars. It is expected that there will be 12.46 billion respectively. dollars and 435.4 million dollars.
Income from trading in fixed income securities rose seventeen percent to 3.18 billion. dollars, or 220 million dollars more than expected, and income from trading shares grew seven percent to 3.17 billion. dollars, which was in line with the forecast average.
In total, after the first half of this year, the mentioned investment bank's net income reaches 26.944 billion. dollars, and the net profit – 7.175 billion. dollars, which compared to the same period in 2023, is seventeen and 61 percent more, respectively. Meanwhile, the share of bad loans rose from 444 million to 600 million. dollars.
Since the beginning of this year, the share price of Goldman Sachs has increased by 23.6 percent, and in the last one year – by 46.7 percent. In comparison, the Dow Jones Industrial Average increased by 6.1 and 16.5 percent, respectively.
