Goldman Sachs Q2 Assets Under Supervision Hit Record, Net Interest Income Surges 56%

Goldman Sachs Group Inc. (NYSE:GS) shares traded higher Wednesday after the firm reported second-quarter results that beat analyst expectations, boosted by robust gains in its global banking and trading divisions.

Net revenue rose 15% year over year to $14.58 billion, topping the consensus estimate of $13.36 billion, though it declined 3% from the prior quarter.

GAAP earnings came in at $10.91 per share, up from $8.62 a year ago and above the $9.48 consensus. First-half EPS rose to $25.07 from $20.21 a year earlier.

Also Read: Goldman Sachs Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

Provision for credit losses increased to $384 million, compared with $282 million a year ago and $287 million last quarter, driven by credit card charge-offs and portfolio growth.

• Global Banking and Markets revenue jumped 24% to $10.12 billion, led by a 26% rise in investment banking fees and strong performance in FICC (up 9%) and equities (up 36%).

• Asset and Wealth Management revenue declined 3% to $3.78 billion due to lower returns from equity and debt investments, partially offset by higher fees and lending income. Wealth management client assets totaled approximately $1.7 trillion.

• Platform Solutions revenue edged up 2% to $685 million, as gains in consumer platforms were offset by softer transaction banking results.

Operating expenses climbed 8% to $9.24 billion, driven by higher compensation and transaction-based costs. The firm’s efficiency ratio improved to 62.0% for the first half, down from 63.8% a year ago.

• Assets Under Supervision (AUS) hit a record $3.29 trillion, up $120 billion in the quarter, aided by market appreciation and $5 billion in net inflows.

• Loans rose quarter over quarter, with an average balance of $215 billion. Loan loss reserves totaled $5.29 billion, split between wholesale ($2.82 billion) and consumer ($2.47 billion).

• Net Interest Income surged 56% to $3.10 billion, driven by lower funding costs, on $1.65 trillion in average interest-earning assets.

Goldman returned $3.96 billion to shareholders during the quarter, including $3 billion in buybacks and $957 million in dividends.

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On July 14, the Board increased the quarterly dividend to $4.00 per common share from $3.00, payable on September 29, 2025, to common shareholders of record on August 29, 2025.

The firm’s Standardized CET1 capital ratio stood at 14.5%, while the Advanced CET1 ratio declined to 15.5%. Return on average common equity was 12.8% for the quarter and 14.8% for the first half. Book value per share rose 1.6% to $349.74 in the second quarter, up 3.9% year to date.