Goldman Sachs' earnings increase 150% in 2nd quarter

ISTANBUL

Goldman Sachs saw its earnings jump nearly 150% in the second quarter of this year, according to its financial results statement released Monday.

The US-based investment bank posted net earnings of $3.04 billion in the April-June period this year, up 149% from $1.22 billion in the same period last year.

Net earnings in the first half of this year totaled $7.18 billion, rising %61 from $4.45 billion in the same period of 2023.

In the second quarter of this year, total net revenues rose 16.8% to $12.73 billion, from $10.9 billion in the April-June period last year.

Total net revenues in the January-June period this year stood at $26.94 billion, which was up 16.5% from $23.12 billion in the same period of 2023.

Chairman and CEO David Solomon said in the statement that the positive results reflect strong year-on-year growth in both Global Banking & Markets and Asset & Wealth Management.

Goldman Sachs' stock price was up 1.9% to $488.99 per share at 9.39 a.m. EDT (1339GMT) on the New York Stock Exchange.