Investing.com -- Goldman Sachs Group Inc. (NYSE: GS) reported second-quarter earnings on Tuesday, exceeding analyst expectations, driven by strong performance in its trading and investment banking businesses.

The financial services firm posted adjusted earnings per share of $20.98 for the quarter ended June 30, beating the analyst consensus of $14.38 by $6.60. Revenue reached $20.34 billion, surpassing the estimate of $16.12 billion and marking a 39% increase from $14.64 billion in the second quarter of 2025.

Shares rose 1.2% following the results. The company's Global Banking & Markets division generated $15.52 billion in net revenues, up 53% YoY. Equities revenue surged 72% to $7.42 billion, while Fixed Income, Currency and Commodities revenue increased 32% to $4.59 billion. Investment banking fees totaled $3.40 billion, up 55% from the prior year period, with gains across equity underwriting, debt underwriting, and advisory services.

"The firm's Investment banking fees backlog increased compared with both the end of the first quarter of 2026 and the end of 2025," the company stated in its earnings release.

Asset & Wealth Management revenues rose 20% to $4.60 billion, reflecting higher management fees and gains from private equity investments. Platform Solutions revenue declined 64% to $221 million, primarily due to markdowns on the Apple Card loan portfolio, which was transferred to held for sale in the fourth quarter of 2025.

Operating expenses increased 26% to $11.67 billion, driven by higher compensation costs reflecting improved performance. The firm's annualized return on equity was 23.5% for the quarter.

Goldman Sachs increased the quarterly dividend to $5.00 per share from $4.50, payable September 29 to shareholders of record on September 1.