Goldman Sachs Q2 Profit, Revenues Surge

(RTTNews) - Goldman Sachs Group Inc. (GS) reported Tuesday that net earnings applicable to common shareholders for the second quarter surged to $2.89 billion or $8.62 per share from $1.07 billion or $3.08 per share in the prior-year quarter.

On average, 17 analysts polled by Thomson Reuters expected the company to report earnings of $7.64 per share for the quarter. Analysts' estimates typically exclude special items.

Provision for credit losses for the quarter was $282 million, compared to $615 million last year.

Total net revenues for the quarter grew 17 percent to $12.73 billion from $10.90 billion in the same quarter last year. Analysts expected revenue of $11.40 billion for the quarter.

On Friday, the Board of Directors of The Goldman Sachs Group, Inc. declared a 9 percent higher dividend of $3.00 per common share to be paid on September 27, 2024 to common shareholders of record on August 30, 2024.

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