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IPFS News Link • Central Banks/Banking

Goldman Smashes Expectations, Reports Second Highest Revenue In History On Blockbuster FICC Results

• https://www.zerohedge.com, Tyler Durden

Indeed, as Goldman reported moments ago, the bank smashed both top and bottom line expectations, on the back of blockbuster FICC revenues while overall trading revenues almost doubled in Q2 from a year ago:

Revenue of $13.30BN, Exp. $9.75BN and 41% higher than Q2 2019

EPS $6.26, nearly double the consensus estimate of $3.78, and above last year's $5.81 Y/Y

FICC Sales & Trading Rev $4.24B, Est. $2.64B

Assets under management $2.06 trillion, +24% y/y

Compensation expenses $4.48 billion, +35% y/y, estimate $3.59 billion

Net interest income $944 million, -12% y/y, estimate $1.44 billion

Some more of the quarter's highlights:

Overall Q2 revenues of $13.30 billion, 41% higher than the second quarter of 2019 and 52% higher than the first quarter of  2020, were the firm's second highest quarterly net revenues.  The  increase  compared with the second quarter of 2019 reflected significantly higher net revenues in  Global  Markets  and  Investment  Banking  and  higher  net  revenues  in  Consumer  &  Wealth Management, partially offset by lower net revenues in Asset Management.


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