Goldman Sachs eyes deal windfall as earnings smash forecasts | Malay Mail

NEW YORK, July 14 ― Goldman Sachs Group Inc executives said a record backlog of deals will help drive profits for the rest of the year after the bank smashed second-quarter estimates.

“Strategic discussions with our corporate client base remain high, reflective of elevated CEO confidence and the prospect of continued economic recovery,” he said. “We're seeing really broad engagement across our franchise.” Total net revenue surged 16 per cent to US$15.39 billion, while diluted earnings per common share of US$15.02 beat estimates of US$10.24, according to the IBES estimate from Refinitiv.

Net revenue from fixed income, commodities and currencies trading fell by 45 per cent. Net revenues from equities trading fell 12 per cent. The bank's executives say changes to the business, including serving a wider range of corporate clients, have led to market share gains which Goldman can retain even when conditions get tougher.

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