Goldman Sachs posts a stellar $4.93 Q2 EPS

This just in. Details from the Goldman Sachs’ earnings release:

  • The company collected net revenues of $13.76 billion and net earnings of $3.44 billion for Q2 ending June 26, 2009.  Diluted EPS stands at $4.93 beating both last quarter’s $3.39 and even same period from last year of $4.58 (which ended May 30, 2008).
  • Excluding one-time preferred dividends from TARP P/S repurchase, EPS would go up further to $5.71.
  • The business’ strengths are unsurprisingly in the fixed income, currency and commodities (FICC) front once again, also helped by equity underwriting, both of which provided record net revenues for the quarter.  They are at $6.8 billion and $736 million, respectively. Total underwriting revenue stood at $1.07bn.
  • Equities, great as expected, produced $3.18 billion for the firm versus $2bn last Q2.
  • Investment banking revenue of $1.44bn is 75% higher from Q1, 15% lower from Q2 of ’08.
  • Trading and principal investments revenues of $10.78bn are shared by $6.80bn from FICC, $3.18bn for equities, and $811 from principal investments. Losses from commercial mortgage loans were lower – $700m vs. $800m from last quarter.
  • It was a a complete 360 turn for principal investments, from a loss of $1.41bn to a revenue of $811m.  This includes a gain of $948 from investments in China’s Industrial and Commercial Bank of China Ltd. (ICBC), a change from the $151m loss last quarter.
  • Revenues for the Asset Management and Securities Services hardly changed – $1.54bn for Q2 versus $1.45bn from Q1. Operating expenses also increased last quarter.
  • Even with a 1% decrease in staff, compensation and benefits increased by a little over 30% for Q2.
  • Total assets were down 4% from Q1.
  • Tier 1 capital is 0.1% higher from Q1 – 13.8% (as a bank holding company).

The entire PDF report HERE.

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