NYSE$GS

Goldman Sachs Group Inc · Q2 2024 earnings

Q2 2024 earnings · · Investor relations

Briefing

Reported solid second quarter results with strong growth in Global Banking & Markets and Asset & Wealth Management.

Goldman Sachs reported net revenues of $12.73 billion and net earnings of $3.04 billion for the second quarter ended June 30, 2024. Diluted earnings per common share (EPS) was $8.62 for the second quarter of 2024.

  • Global Banking & Markets generated $8.18 billion in net revenues, driven by strong performance in Equities.
  • The firm ranked #1 in worldwide announced and completed mergers and acquisitions for the year-to-date.
  • Asset & Wealth Management generated $3.88 billion in net revenues, including record quarterly Management and other fees.
  • Assets under supervision increased $86 billion during the quarter to a record $2.93 trillion.

Headline financials

Total Revenue

$12.7B

Previous: $10.9B+16.9%
EPS

$8.62

Previous: $3.08+179.9%
Efficiency Ratio

63.8%

No prior period
Effective Tax Rate

16.1%

No prior period
Book Value Per Share

$327.13

No prior period
Capital Expenditures

-$1.04B

Previous: -$1.26B+17.7%
Free Cash Flow

$2B

Previous: -$47M+4363.8%
Net Income

$3.04B

Previous: $1.22B+150.2%
Operating Income

-$7.69B

Previous: -$193M-3881.9%
Gross Profit

$12.4B

Previous: $10.3B+21.1%
Cash & Equivalents

$206B

Previous: $271B-23.8%
Total Assets

$1.65T

Previous: $1.57T+5.2%
Stock-Based Comp

$595M

Previous: $239M+149.0%

Revenue & EPS history

Goldman Sachs · Revenue · Quarterly

$12.7B

Q2 2024+16.9%vs Q2 2023
Beat estimate in 12 of 15 quarters(80%)
ActualEstimate

Revenue by segment

Goldman Sachs · $10.9B total across 3 segments · Q2 2023

  • Global Banking & Markets
    $7.19B-13.8%
  • Asset & Wealth Mgmt
    $3.05B-4.2%
  • Platform Solutions
    $659M+92.1%

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q2 2024

Historical avgQ2 2024

+0.1%

Avg return

Earnings day

+0.8%

Avg return

5 days after

+4.1%

Avg return

30 days after

47%

34 / 73 earnings

Positive

+10.7%

Q4 2018

Best reaction

-8.8%

Q4 2021

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q4 2025+5.5%+2.0%+5.2%
Q1 2026-1.0%+2.0%+5.2%
Q3 2025-2.4%-4.6%+2.4%
Q2 2025+0.3%-3.1%+4.7%
Q1 2025+1.9%+3.0%+23.7%
Q4 2024+7.3%+9.5%+15.6%
Q3 2024+1.4%+1.1%+12.6%
Q2 2024+4.8%+1.1%+3.9%
Q1 2024+1.9%+3.7%+19.7%
Q4 2023-0.2%+1.2%+2.0%
Q3 2023-4.0%-4.6%+7.1%
Q2 2023+4.0%+6.4%-3.7%
Q1 2023-0.8%+0.6%-3.0%
Q4 2022-6.7%-8.6%-1.0%
Q3 2022+1.6%+6.0%+23.8%
Q2 2022+8.2%+10.2%+20.4%
Q1 2022+2.5%+4.3%-4.7%
Q4 2021-8.8%-9.7%-8.4%
Q3 2021+5.7%+4.3%+3.5%
Q2 2021-1.6%-4.1%+9.1%
Q1 2021+3.3%+4.7%+12.5%
Q4 2020-3.5%-3.9%+3.0%
Q3 2020-1.0%-2.4%+3.9%
Q2 2020+0.3%-1.1%-2.8%
Q1 2020-0.7%+1.2%-3.6%
Q4 2019+1.7%+1.5%-3.5%
Q3 2019+0.8%+0.3%+6.6%
Q2 2019+0.8%+0.9%-7.3%
Q1 2019-2.9%-0.9%-5.5%
Q4 2018+10.7%+12.6%+10.3%
Q3 2018+6.1%+5.5%-5.3%
Q2 2018-0.1%+0.1%+0.7%
Q1 2018-1.5%-2.3%-7.3%
Q4 2017-2.9%+1.2%+3.5%
Q3 2017-0.2%+1.0%-1.3%
Q2 2017-2.8%-4.0%-3.4%
Q1 2017-5.4%-4.2%-4.9%
Q4 2016-1.8%-1.3%+6.2%
Q3 2016+3.3%+3.4%+24.0%
Q2 2016-1.0%-1.8%+1.7%
Q1 2016+5.0%
Q4 2015-3.3%
Q3 2015+3.2%
Q2 2015-0.2%
Q1 2015-1.9%
Q4 2014-1.6%
Q3 2014-0.2%
Q2 2014+2.1%
Q1 2014+0.4%
Q4 2013-1.4%
Q3 2013-2.2%
Q2 2013-0.9%
Q1 2013-4.0%
Q4 2011+1.6%
Q4 2012+4.0%
Q3 2012+0.3%
Q2 2012-1.2%
Q1 2012-2.0%
Q3 2011-8.4%
Q2 2011-6.2%
Q1 2011+0.7%
Q1 2009-1.3%
Q4 2010-1.3%
Q3 2010-1.2%
Q4 2009-0.8%
Q2 2010-0.8%
Q1 2010-0.7%
Q4 2007+1.5%
Q3 2008+1.0%
Q3 2009+1.0%
Q2 2008+1.0%
Q2 2009+1.0%
Q4 2008+1.0%

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