Goldman Sachs (NYSE:GS) earnings for the fiscal second quarter of 2020 have GS stock popping higher on Wednesday. That’s thanks to its adjusted earnings per share (EPS) of $6.26, which is much better than Wall Street’s estimate of $3.78. Also, the company’s revenue of $13.3 billion crushed analysts’ estimates of $9.73 billion for the quarter.
Furthermore, the company reported GAAP EPS of $6.29 during the period.
Here are some additional highlights from the most recent Goldman Sachs earnings report.
- Adjusted EPS is 8% better than the $5.81 from the same time last year.
- Revenue comes in 41% higher than $9.46 billion reported in the fiscal second quarter of 2019.
- The Goldman Sachs earnings report also includes a net income of $2.42 billion.
- That’s about the same as what was reported in the same period of the year prior.
David M. Solomon, chairman and CEO of Goldman Sachs, said this about the GS stock earnings report:
“This quarter demonstrated the continued dedication of the people of Goldman Sachs to helping our clients navigate a very challenging environment, while working remotely or returning to offices that are quite different than the ones we left earlier in the year. We also continue to be grateful for those working hard to contain the pandemic and limit its human and economic costs.”
A conference call to discuss the firm’s financial results, outlook and related matters took place earlier on Wednesday morning. That info can be found here. Plus, we already know what Wall Street is expecting for the rest of FY2020. Analyst estimates call for adjusted EPS of $14.41 on revenue of $35.13 billion.
GS stock was up just under 1% as of Wednesday morning.
Nick Clarkson is a web editor at InvestorPlace. As of this writing, he did not hold a position in any of the aforementioned securities.
