Sales increase by 15% compared to the previous year, driven by strong results in Global Banking & Markets.
The investment banking giant reported earnings per share of USD 10.91, beating analysts' estimates of USD 9.59 by USD 1.32.
Revenue amounted to USD 14.58 billion, above the consensus estimate of USD 13.51 billion and up 15% compared to the second quarter of 2024.
Revenue in the Global Banking & Markets increased by 24% year-on-year to USD 10.12 billion.
Income from investment banking fees rose by 26% to USD 2.19 billion.
The equities business recorded an increase in turnover of 36% to USD 4.30 billion, while the Fixed Income, Currency and Commodities (FICC) division Fixed Income, Currency and Commodities (FICC) recorded growth of 9 % to 3.47 billion US dollars.
"Our strong quarterly results reflect healthy client activity across our businesses, our differentiated market positions and the talent and dedication of our people," said David Solomon, Chairman and CEO of Goldman Sachs. "The economy and markets are generally responding positively to the evolving political environment."
Turnover in the Asset & Wealth Management decreased 3% year-over-year to $3.78 billion due to significantly lower net revenues from equity and fixed income investments, partially offset by higher management and other fees.
The efficiency ratio of the company improved to 62.0% in the first half of 2025, compared to 63.8% in the first half of 2024.
The operating expenses increased by 8 % year-on-year to USD 9.24 billion, mainly due to higher expenses for compensation and benefits as a result of the improved business performance.
Goldman Sachs also announced that it will increase the quarterly dividend to USD 4.00 per common share. A total of $3.96 billion was returned to shareholders during the quarter, including $3.00 billion through share repurchases and $957 million through dividends.
