The Goldman Sachs Group (GOS.DE) Q2 2024 Earnings Report

The Goldman Sachs Group Inc delivered a solid top-line performance in QQ2 2024 with revenue of $30.93 billion, marking a 18.74% year-over-year increase and a modest 3.83% sequential decline. The quarter produced net income of $3.04 billion and diluted EPS of $8.62, with an operating margin of 12.66% and a pre-tax margin of 12.66%. The results reflect continued strength in advisory and underwriting activity within Investment Banking and sustained demand across Global Markets, alongside resilient asset management and wealth-advisory contributions. However, profitability was notably influenced by a substantial financing cost component, as interest expense (~$18.20 billion) appears to weigh on the bottom line in the period, yielding a net income figure that still contrasts with the sizable debt load on the balance sheet. Free cash flow was robust at approximately $5.58 billion, underscoring Goldman’s ability to generate cash despite elevated financing costs and seasonality in capital markets activity.