BlackRock and Goldman Sachs each reported record second-quarter results this week, driven by strong capital markets activity and client inflows. BlackRock’s assets under management surpassed $15 trillion for the first time after attracting $192 billion in net client inflows, with revenue climbing more than 30% year over year to $7.08 billion and adjusted earnings per share of $13.91. Goldman Sachs saw revenue surge 39% to $20.33 billion and adjusted earnings per share nearly double to $20.98, fueled by a 53% revenue jump in Global Banking & Markets and a 55% increase in investment banking fees. While Goldman Sachs’ stock has soared over 230% in the last three years compared to BlackRock’s 50% gain, BlackRock offers a higher dividend yield of 2.1% versus Goldman’s 1.56%. Goldman Sachs currently carries a Zacks Rank #2 (Buy) and BlackRock a Zacks Rank #3 (Hold).
BlackRock IncBlackRock reported record Q2 results with AUM surpassing $15 trillion, revenue up 30%, and EPS of $13.91.
Goldman Sachs Group IncGoldman Sachs reported record Q2 results with revenue up 39%, EPS nearly doubling to $20.98, and strong investment banking fees.