- Goldman Sachs continued its leadership in investment banking, ranking first in worldwide announced and completed mergers and acquisitions for the year-to-date. (2) The firm also ranked first in worldwide equity and equity-related offerings, common stock offerings and initial public offerings for the year-to-date. (2)
- Underwriting produced record quarterly net revenues of $1.28 billion, including record net revenues in debt underwriting.
- Investment management generated record quarterly management and other fees of $1.20 billion, as assets under supervision increased to a record $1.14 trillion.
- Book value per common share and tangible book value per common share (3) both increased approximately 2% during the quarter to $158.21 and $148.45, respectively.
- The firm continues to manage its liquidity and capital conservatively. The firm’s global core excess liquidity (4) was $170 billion (5) as of June 30, 2014. In addition, the firm’s Common Equity Tier 1 ratio (6) was 11.4% (5) as of June 30, 2014, under the Basel III Advanced approach. Total assets decreased $56 billion to $860 billion (5) as of June 30, 2014, resulting from a firmwide initiative to reduce activities with lower returns, including certain client secured financing activities.
The Goldman Sachs Group, Inc. (NYSE: GS) today reported net revenues of $9.13 billion and net earnings of $2.04 billion for the second quarter ended June 30, 2014. Diluted earnings per common share were $4.10 compared with $3.70 for the second quarter of 2013 and $4.02 for the first quarter of 2014. Annualized return on average common shareholders’ equity (ROE) (1) was 10.9% for both the second quarter of 2014 and the first half of 2014. Highlights