Goldman Sachs Earnings Report Beats Wall Street Expectations
In the Goldman Sachs earnings report for Q2 2019, earnings per share came in at $5.81. This far exceeded the $4.89 per share that Wall Street was expecting. Revenues for Q2 2019 also blew away forecasts, coming in at $9.46billion on the back of strong trading and investment banking earnings. Equities revenues were reported at $2.01 billion, which also surpassed consensus estimates. However, fixed income, commodity and currency (FICC) trading revenues came in at slight below estimates, and these proved to be the only disappointments in what has proven to be a stellar earnings report for the bank.
Goldman Sachs Trading Higher in Premarket
The bank’s shares are already up 1% in pre-market trading in response to the Goldman Sachs earnings report, as the bank’s quarterly dividend is expected to go up from 85 cents per share as previously announced by the bank last month, to $1.25 per share.
The stock of Goldman Sachs looks set to continue a bull run that started in June after the bank passed its annual stress tests set by the Federal Reserve. This was after its stock suffered in 2018 and early 2019 following the 1MDB scandal in Malaysia where an ex-partner of the bank admitted to wrongdoing with a Malaysian financier in which an investment fund lost billions of dollars.Don’t miss a beat! Follow us on Twitter.