7/15/2020, 1:25 PM (Source: TeleTrader)
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Goldman posts revenue at $13.30B, up 41% YoY

Goldman Sachs Group Inc. announced on Wednesday its revenue in the second fiscal quarter of 2020 rose 41% year-over-year to stand at $13.30 billion. Operating expenses increased 37% on an annual basis to $8.40 billion. Net earnings were $2.42 billion, practically unchanged compared to the prior year. This translated to a gain of $6.26 per diluted share, a 5% drop versus Q2 2019.

"Our strong financial performance across our client franchises demonstrates the inherent benefits of our diversified business model. The turbulence we have seen in recent months only reinforces our commitment to the strategy we outlined earlier this year to investors. While the economic outlook remains uncertain, I am confident that we will continue to be the firm of choice for clients around the world who are looking to reshape their businesses and rebuild a more resilient economy," Chairman and CEO David Solomon said in the press release.

Breaking the News / MD