Net profit of Goldman Sachs increased 9 times in 1H21

The net profit of the US banking giant Goldman Sachs Group Inc. attributable to shareholders in the first half of 2021 increased 9.1 times compared to the same period last year and amounted to $12.058 billion, Report informs with reference to the bank.

Report informs citing Prime, diluted earnings per share amounted to $33.64 against $3.66 a year earlier. The bank’s revenue for the reporting period increased by 1.5 times and amounted to $33.092 billion.

In the second quarter, Goldman Sachs’ net income attributable to shareholders increased 27-fold year-on-year to $5.347 billion. Diluted earnings per share were $15.02 versus $0.53 a year earlier. Analysts had expected earnings of $9.96 per share. The bank’s revenue amounted to $15.388 billion (an increase of 16%). However, analysts were expecting it to be $12.04 billion.

The revenue increase compared to the second quarter of 2020 reflects significantly higher revenue in the Asset Management and Investment Banking divisions, which is partially offset by a significant decrease in revenue from global financial markets.

Goldman Sachs was founded in 1869 in New York.