IPFS News Link • Central Banks/Banking
Goldman Smashes Expectations, Reports Second Highest Revenue In History On Blockbuster FICC Results
• https://www.zerohedge.com, Tyler DurdenIndeed, 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.