Goldman Sachs (GS) Tops Q2 EPS by 55c; FICC Revenue Misses

(Updated - July 18, 2017 7:38 AM EDT)

Goldman Sachs (NYSE: GS) reported Q2 EPS of $3.95, $0.55 better than the analyst estimate of $3.40. Revenue for the quarter came in at $7.89 billion versus the consensus estimate of $7.52 billion.

FICC sales and trading revenue was $1.16 billion, versus the consensus of $1.47 billion.

Highlights

• Goldman Sachs reported first half net revenues of $15.91 billion, 12% higher than the first half of 2016, which contributed to a 340 basis point improvement in pre-tax margin to 31.7%.
• The firm ranked first in worldwide announced and completed mergers and acquisitions for the year-to-date. The firm also ranked first in worldwide common stock offerings for the year-to-date. (3)
• Debt underwriting produced its third highest quarterly performance with net revenues of $721 million.
• Equities generated its highest quarterly results in two years with net revenues of $1.89 billion, an increase of 13% compared with the first quarter of 2017.
• Investment Management generated record quarterly management and other fees of $1.28 billion, as assets under supervision (4) increased to a record $1.41 trillion (5).
• The firm returned nearly $7 billion of capital to common shareholders during the past year. Book value per common share increased by 6.1% from a year ago, including 1.3% during the quarter, to $187.32.
• The firm maintained strong capital ratios and liquidity. The firm’s Common Equity Tier 1 ratio (6) as calculated in accordance with the Standardized approach and the Basel III Advanced approach was 13.9% (7) and 12.5% (7), respectively, and the firm’s global core liquid assets (4) were $221 billion (7) as of June 30, 2017.

For earnings history and earnings-related data on Goldman Sachs (GS) click here.

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