GS reports $20.98 EPS and $20.34B revenue, beating estimates as deal activity and volatility drive 39.5% YoY growth.
Goldman Sachs posted second-quarter earnings of $20.98 per share, up 92% year-over-year and exceeding estimates by $6.44. Revenue reached $20.34 billion, a 39.5% increase from the prior year and $3.94 billion above expectations.
The gains were fueled by a 55% jump in investment banking fees, reflecting a rebound in IPOs and deal activity. Market volatility also contributed to stronger trading performance, contrasting with a slower quarter for some peers.
Shares rose in premarket trading as investors reacted to the better-than-expected results and improved outlook for financial services.