Goldman Sachs Group Inc (NYSE: GS) reported on Tuesday that the net revenue in the second quarter of 2021 was $15.39 billion, 16% higher than it was in the second quarter of 2020. The company further announced that it increased the quarterly dividend to $2 per common share and said earnings per common share in Q2 were $15.02.
Key takeaways
"While the economic recovery is underway, our clients and communities still face challenges in overcoming the pandemic."
"Net revenues in global markets were $4.90 billion for the second quarter of 2021, 32% lower than the second quarter of 2020."
"Net revenues in investment banking were $3.61 billion for the second quarter of 2021, 36% higher than the second quarter of 2020."
"Provision for credit losses was a net benefit of $92 million for Q2 2021, compared with net provisions of $1.59 billion for Q2 2020."
"Quarterly net revenues in equities were $2.58 billion, 12% lower than the second quarter of 2020."
"Net revenues in consumer & wealth management were $1.75 billion for the second quarter of 2021, 28% higher than the second quarter of 2020."
"Firm’s allowance for credit losses was $4.09 billion as of June 30, 2021."
"Operating expenses were $8.64 billion for the second quarter of 2021, 17% lower than the second quarter of 2020."
"Net provisions for litigation and regulatory proceedings for Q2 2021 were $226 million compared with $2.96 billion for Q2 2020."
"Quarterly investment banking net revenue increase reflected higher net revenue in financial advisory and corporate lending and in underwriting."
"Quarterly net rev in consumer banking higher reflecting higher deposit and credit card balances."
Market reaction
Following these results, Goldman Sachs Group Inc (NYSE: GS) shares were up 0.53% in premarket at $382.50.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD weakens below 1.0900 amid trade war fears
EUR/USD loses ground to trade below 1.0880 in early Europe on Thursday. Escalating US-EU trade tensions weigh on risk sentiment and the pair, lending some support to the US Dollar amid US inflation cooldown. Focus shifts to ECB-speak and US PPI data.
Gold price sticks to gains near all-time high ahead of US PPI; bulls shrug off modest USD strength
Gold price retains its positive bias through the first half of the European session on Thursday and remains within striking distance of the record high touched on February 24. Persistent worries about the potential economic fallout from Trump's aggressive trade policies benefit the safe-haven bullion for the third successive day.
GBP/USD stay defensive near 1.2950 as risk-off mood persists
GBP/USD is on the defensive near 1.2950 in the European session on Thursday. The pair faces headwinds from intensifying tariff war globally and a pause in the US Dollar downtrend. Traders look forward to the US PPI data for fresh directional impetus.
Metaverse narrative stalls as price action fades, but on-chain data signals continuing accumulation
Metaverse tokens are cryptocurrencies associated with virtual worlds, digital economies, and immersive online experiences. Tokens like Sandbox, Decentraland, and Axie Infinity, three of the most prominent assets during the Metaverse boom of 2021, continue to face correction since they topped in early December.
Brexit revisited: Why closer UK-EU ties won’t lessen Britain’s squeezed public finances
The UK government desperately needs higher economic growth as it grapples with spending cuts and potential tax rises later this year. A reset of UK-EU economic ties would help, and sweeping changes are becoming more likely.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.