Goldman Sachs continues to slash bonuses

Operating expenses were $5.47 billion for the second quarter of 2016, 26% lower than the second quarter of 2015. The company posted revenue of $7932.00 million in the period, compared to analysts expectations of $7484.56 million. Goldman Sachs has been slashing jobs; 353 jobs have been slashed earlier this year.

Shares of Yahoo Inc. rebounded after the internet company’s adjusted second quarter earnings trailed estimates.

Last week, Goldman Sachs market strategist David Kostin warned that “current United States earnings recession will not end in 2Q” for banks, as per CNBC.

The bank’s profit jumped 74% to $1.82 billion, after results in the year-ago period were weighed down by a big legal charge related to Goldman’s precrisis mortgage activities. After posting $2.68 EPS for the previous quarter, Goldman Sachs Group Inc’s analysts now forecast 21.27% EPS growth. (The) plainly substantiates that the 50-day moving average of Goldman Sachs Group, Inc.

Chief financial officer Harvey Schwartz said on a conference call with analysts that when client activity picks up, like it did in the days following the UK’s vote to leave the European Union, the firm’s share of fixed-income revenue rises. Shareholders of record on Thursday, September 1st will be given a dividend of 0.65 per share by the investment management company on Thursday, September 29th.

Revenues from financial advisory services fell three percent due to a drop in merger and acquisition deals, while net revenues in equity trading were down 12 percent. The Company operates through four segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management.

Previously for the quarter ended on 9/2009, Goldman Sachs Group Inc (NYSE:GS)’s expected mean EPS was $4.13, the company reported its quarterly earnings per share of $5.25 on 10/15/2009 BMO, beating the analysts’ consensus estimate by 1.12 with surprise factor of 27.12%. He added that “Goldman Sachs has a long history of adapting to change, and we will work with relevant authorities as the terms of the exit become clear”. Bond underwriting was the only business there to report higher revenue, jumping 20 percent to $724 million – Goldman’s second-best quarterly performance ever. Although shares did trade to nearly 166 prior to the market’s open in the early morning on 7/19/2018, Goldman’s shares quickly reversed, trading as low as 161.58 at 09:55 AM, despite a solid beat both on earnings and revenues. It is worth noting that higher debt underwriting fees helped the bank offset a drop in equity underwriting.

Goldman’s investment banking revenue fell 11 percent to $1.79 billion.