Investing.com - Shares in Goldman Sachs (NYSE:GS) traded lower in pre-market trade on Tuesday as the firm beat consensus with its second quarter results on the top and bottom line, but equity revenue missed the consensus estimate.
The financial services firm reported diluted earnings per share (EPS) of $5.98 in the April to June period.
Analysts had forecast $4.63 per share.
Meanwhile, the firm’s revenue increased 19% from the same quarter a year earlier to $9.4 billion, beating the forecast for $8.66 billion. Goldman commented that it was the highest second quarter revenue in the last nine years.
However, the firm also reported that revenue from equities sales and trade was $1.89 billion, which missed the consensus forecast for $1.97 billion.
According to the press release, Goldman ranked first in worldwide announced mergers and acquisitions for the year-to-date and also ranked first in worldwide equity and equity-related offerings, common stock offerings and initial public offerings for the year-to-date.
“Solid performance across all of our major businesses drove the strongest first-half returns in nine years,” Lloyd Blankfein, Goldman’s chairman and chief executive, commented in the press release.
“With a healthy economic backdrop and deep client franchises, the firm is well-positioned to invest in attractive opportunities to meet the needs of our clients and continue to generate earnings growth,” he concluded.
At 7:52 AM ET (11:52 GMT), shares fell 0.71% to $229.50, compared to the previous closing price of $231.44.
Traders will now turn their attention to the firm’s conference call due to start at 9:30AM ET (13:30GMT).