Goldman Sachs reported a notable increase in revenue for the second quarter, particularly in investment banking advisory, which surged by 71% year-over-year. CEO David Solomon expressed optimism about growth in dealmaking and the impact of AI. Since taking over seven years ago, Solomon has faced challenges including leadership questions and a failed consumer banking effort. Despite these hurdles, the bank has remained focused on efficiency and investor returns, evidenced by a 400% increase in stock dividends since 2018. Solomon highlighted significant deal wins and plans for continued dividend growth.
Goldman Sachs reported a strong second-quarter with a 71% increase in IB advisory revenue year-over-year, highlighting significant growth despite overall deal volume decline.
David Solomon emphasized plans for increased efficiency and investor returns, noting the 400% growth in stock dividends since 2018 and a recent 33% increase.
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