Goldman Sachs Q2 profit soars 78% to $6.6 billion
Business
Goldman Sachs just blew past expectations, reporting a 78% jump in second-quarter profit, hitting $6.6 billion, or $21 a share (compared to Wall Street's estimate of $14.50).
Revenue climbed 39% to $20.3 billion, and the stock rose slightly after the news.
Goldman Sachs advises over $1T deals
CEO David Solomon said, "Momentum has accelerated throughout our businesses," with big wins from AI-driven fundraising, active markets, and major deals like a SpaceX transaction and Alphabet's share sale.
Equities trading saw its third straight record quarter, and investment banking revenue reached its best level since 2021.
Goldman now leads the global M&A market, advising over $1 trillion in deals this year, and Solomon says they're optimistic about keeping up this momentum.