In this articleGSGSBDFollow your favorite stocksCREATE FREE ACCOUNTGoldman Sachs CEO David Solomon speaks during the Goldman Sachs Investor Day at Goldman Sachs Headquarters in New York City, U.S., February 28, 2023. Brendan Mcdermid | ReutersGoldman Sachs on Wednesday posted results that topped expectations as its trading operations generated $840 million more revenue than analysts had expected.Here’s what the company reported:Earnings: $10.91 a share vs. $9.53 a share LSEG estimateRevenue: $14.58 billion vs. $13.47 billionThe bank said that second quarter profit jumped 22% from a year earlier to $3.72 billion, or $10.91 per share. Revenue climbed 15% to $14.58 billion, roughly $1.1 billion more than the estimate.Trading desks across Wall Street have benefited this year as President Donald Trump’s tariff policies have roiled markets for bonds, currencies, commodities and stocks. Goldman Sachs, which relies more on Wall Street activities than its peers, is known to have outsized returns during boom times.Most of the quarterly revenue beat came from equities trading, which generated $4.3 billion in revenue, a 36% jump from a year earlier and about $650 million more than analysts were expecting. The bank cited higher activity in market making for both stocks and derivatives, as well as rising financing fees. Fixed income trading revenue rose 9% to $3.47 billion on higher financing fees and more activity in currency and credit markets, topping expectations by $190 million. Shares of the bank have climbed 23% this year before Wednesday. On Tuesday, JPMorgan, Citigroup and Wells Fargo each posted results that topped analysts’ expectations for earnings and revenue.This story is developing. Please check back for updates. …
