Goldman earnings beat expectations
Quarterly revenue was up 40.5% compared to the same quarter last year
Stocks impacted: Goldman Sachs Group Inc (GS)
Goldman Sachs reported second-quarter earnings that beat analyst estimates for revenue and profit. The bank said it generated $2.42 billion in profit, or $6.26 a share, crushing the $3.78 a share estimate of analysts. The business had revenue of $13.30 billion for the quarter, compared to estimates of $9.76 billion. The firm’s core investment banking business delivered $2.66 billion in earnings, up 36% from the same period a year ago. Quarterly revenue was up 40.5% compared to the same quarter last year. Also, Goldman set aside $945 for litigation and regulatory proceedings compared to $66 million a year ago. The bank’s stocks climbed over 4% after the release and finished 1.35% higher on Wednesday.
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