goldman Markets

Goldman Puts Up Mind-Boggling Trading Results, Beats On Pretty Much Everything

In the first three months of the most tumultuous year in recent memory, Goldman's traders turned in their best performance in five years, effectively rescuing the bank from a stumble in the asset management unit. Fast forward to the second quarter, and results from JPMorgan and Citi showed trading was among the few bright spots at a time when economic concerns weighed heavily on consumers and prompted America's largest financial institutions to set aside tens of billions for souring loans. It thus comes as no surprise that Goldman once again reported blockbuster trading results. FICC revenue was $4.24 billion for the quarter, up 149% YoY. That makes a mockery of estimates. The market was looking for $2.64 billion. Intermediation net revenues surged, reflecting strength across "all major businesses", and especially in rates, credit and commodities. It was the best quarterly FICC performance in nine years. In equities, sales and trading revenue was $2.94 billion, the most in more than a decade, and up 46% YoY. That too is better than expected. The market was looking for $2.15 billion. Goldman notes strength in both cash products and derivatives. All told, Global Markets revenue
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1 comment on “Goldman Puts Up Mind-Boggling Trading Results, Beats On Pretty Much Everything

  1. George says:

    This is a question…..Most Banks beat on the FICC number this last earnings period…It would appear that those numbers are not repeatable in future earning periods due to the one time nature of the Fed backstops and huge infusion of Capital due to the Corona Virus…Would this assumption have any validity ???

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