Goldman Sachs Group Inc (NYSE:GS) stock rose 0.23% (As on July 17, 11:24:34 AM UTC-4, Source: Google Finance) after the company beat second-quarter profit and revenue expectations by wide margins amid a surge in trading during the quarter. Goldman Sachs said its second-quarter earnings rose to $3.47 billion, from $2.89 billion in the same period a year ago Provision for credit losses increased to $384 million from $282 million, reflecting charge-offs related to the bank’s credit-card portfolio and growth in credit cards. Assets under supervision rose to a record $3.29 trillion, including $17 billion in long-term net inflows during the quarter. Global banking and markets produced revenues of $10.1 billion in the quarter. The advisory revenues of $1.2 billion rose 71% versus a year ago, reflecting strength in the Americas and EMEA. Equity underwriting revenues of $428 million were essentially flat year over year, while debt underwriting revenues of $589 million fell 5% amid lower leverage finance activity. The common equity Tier one ratio was 14.5% at the end of the second quarter under the standardized approach.

Meanwhile, in investment banking, clients continue to turn to our number one M&A franchise for their most consequential transactions. The deal-making environment has been remarkably resilient. While activity was slower in the first half of the quarter, announced M&A volumes for the year to date are 30% higher year over year and 15% greater than the comparable five-year average. During the quarter, GS priced 11 IPOs for clients around the globe, including Circle, Chime, eToro, and HTB Financial Services, which have performed well on the secondary market. The company raised $18 billion this quarter, driven by demand for flagship funds across strategies, including secondary, hybrid capital, and growth equity. Wealth management client assets rose to a record $1.7 trillion.

GS in the second quarter of FY25 has reported the adjusted earnings per share of $10.91, beating the analysts’ estimates for the adjusted earnings per share of $9.69, according to average analyst estimate compiled by FactSet. The company had reported the adjusted revenue growth of 14.5 percent to $14.58 billion in the second quarter of FY25, beating the analysts’ estimates for revenue of $13.58 billion. The investment-banking fees jumped 26% to $2.19 billion and equities revenue climbed 36% to $4.3 billion.

Additionally, Goldman Sachs boosted its dividend to $4 a share from $3 a share. Shareholders of record as of Aug. 29 will be paid the dividend on Sept. 29.