Goldman Sachs (NYSE:GS) has posted Q2 earnings that have topped expectations. Goldman CEO and Chairman David M. Solomon issued the following statement:

“Our second-quarter performance and record revenues for the first half of the year demonstrate the strength of our client franchise and our continued progress on our strategic priorities. While the economic recovery is underway, our clients and communities still face challenges in overcoming the pandemic. But, as always, I am proud of the dedication and resilience of our people, who have worked tirelessly to help our clients navigate the ever-changing market environment.”

Q2 revenues came in at $15.39 billion with net earnings at $5.49 billion or $15.02 earnings per share the second-highest net earnings and EPS ever.

For the first half of 2021, net revenues were $33.09 billion and net earnings were $12.32 billion.

Goldman’s Investment Banking division generated its second-highest quarterly net revenues of $3.61 billion.

Goldman’s growing consumer and wealth management division, which includes digital bank Marcus, generated net revenues of $1.75 billion for the second quarter, 28% higher than the second quarter of 2020 and essentially unchanged compared with the first quarter of 2021.

Net revenues in Wealth management were $1.38 billion, 25% higher than the second quarter of 2020.

Net revenues in Consumer banking were $363 million, 41% higher than the second quarter of 2020, reflecting higher deposit and credit card balances.

Goldman also announced an increase in its dividend to $2/share.

Shares in Goldman moved higher in pre-market trading. The earnings call will take place later this morning at 930AM ET.

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Source: https://www.crowdfundinsider.com/2021/07/177795-goldman-sachs-tops-earnings-expectations/