Goldman Sachs reported a 78.2% surge in second-quarter net earnings to $6.63 billion, driven by a booming trading environment and growth in asset and wealth management. Net revenue rose 39.5% to $20.34 billion, with Global Banking & Markets revenue jumping 53% to $15.52 billion and Asset & Wealth Management revenue up 20% to $4.6 billion. Assets under supervision reached $4.04 trillion, supported by $230 billion of net inflows and $161 billion of market appreciation. The provision for credit losses fell to $102 million from $384 million a year earlier, while operating expenses increased 26% to $11.67 billion, largely due to higher compensation and transaction-based costs. The firm returned $5.36 billion to common shareholders during the quarter, including $4 billion in share buybacks and $1.36 billion in dividends.
Goldman Sachs Group IncGoldman Sachs reported a 78% surge in Q2 net earnings to $6.63 billion, driven by strong trading and wealth management revenue.