Goldman Sachs Reports Strong 2024 Second Quarter Earnings Per Common Share of $8.62 and Annualized Return on Common Equity of 10.9%

Strategic Insights -

Goldman Sachs, a leading global investment bank, reported significant earnings in the second quarter of 2024. The firm's annualized return on average common shareholders' equity (ROE) stood at 10.9%, while diluted earnings per common share (EPS) reached $8.62. These results demonstrate the company's resilience in a complex market environment. David Solomon, Chairman and CEO of Goldman Sachs, highlighted the firm's strong performance in both Global Banking & Markets and Asset & Wealth Management, attributing it to the success of the One Goldman Sachs operating approach.

Key Takeaways:

  • Goldman Sachs reported net revenues of $12.73 billion for the second quarter ended June 30, 2024, indicating a strong revenue stream.
  • The firm's diluted earnings per common share (EPS) was $8.62, reflecting the company's ability to generate earnings from its diversified business segments.
  • The annualized return on average common shareholders' equity (ROE) was 10.9%, a testament to the firm's capital management skills and operational efficiency.
  • The One Goldman Sachs operating approach appears to have been successful in deepening relationships with clients and providing comprehensive services across the firm's businesses.
  • The conference call to discuss the firm's financial results and outlook will be held on July 15, 2024, at 9:30 am (ET), and will be accessible to the public through audio webcast.

Statistics:

  • Net revenues: $12.73 billion
  • Net earnings: $3.04 billion
  • Diluted earnings per common share (EPS): $8.62
  • Annualized return on average common shareholders' equity (ROE): 10.9%

Sources:

  • Goldman Sachs Schedules Second Quarter 2024 Earnings Release
  • Goldman Sachs Invesor Relations: Second Quarter 2024 Earnings Results Presentation [PDF]
  • Goldman Sachs Investor Relations: Second Quarter 2024 Earnings Results [PDF]