Goldman Sachs reported robust Q2 2024 financial results, with revenue climbing 16.8% YoY to $12.73 billion and net earnings surging 149.2% to $3.04 billion. Diluted EPS rose 179.9% to $8.62, while ROE improved to 10.9% from 4.0% in Q2 2023. The firm increased its quarterly dividend from $2.75 to $3.00 per share and repurchased $3.50 billion in shares during the quarter.Strong performance was noted across core businesses, with Global Banking & Markets seeing growth in investment banking fees, FICC, and equities. Asset & Wealth Management benefited from higher management fees and net gains in equity investments, while Platform Solutions experienced a slight increase in net revenues. The company maintained a solid capital position with a CET1 ratio of 14.9% (Standardized) and 15.9% (Advanced).Looking ahead, Goldman Sachs aims to focus on expense management and operational efficiency while maintaining positive...Show More

Goldman Sachs reported robust Q2 2024 financial results, with revenue climbing 16.8% YoY to $12.73 billion and net earnings surging 149.2% to $3.04 billion. Diluted EPS rose 179.9% to $8.62, while ROE improved to 10.9% from 4.0% in Q2 2023. The firm increased its quarterly dividend from $2.75 to $3.00 per share and repurchased $3.50 billion in shares during the quarter.Strong performance was noted across core businesses, with Global Banking & Markets seeing growth in investment banking fees, FICC, and equities. Asset & Wealth Management benefited from higher management fees and net gains in equity investments, while Platform Solutions experienced a slight increase in net revenues. The company maintained a solid capital position with a CET1 ratio of 14.9% (Standardized) and 15.9% (Advanced).Looking ahead, Goldman Sachs aims to focus on expense management and operational efficiency while maintaining positive momentum across core businesses. The firm plans to moderate stock repurchases due to an increased Stress Capital Buffer requirement, targeting a 50-100 basis point buffer above capital requirements. Additionally, the company is narrowing its focus on consumer-related activities and discussing the potential transition of the GM credit card program to another issuer.