Why Goldman Sachs Stock Jumped Today
Yahoo Finance ·
Shares of Goldman Sachs ( GS +9.00% ) popped on Tuesday after the investment banking leader delivered strong second-quarter profits. Goldman's net revenue rose 39% year over year to $20.3 billion, with impressive growth across its major business segments. Investment banking fees surged 55% to $3.4 billion, fueled by initial public offerings ( IPOs ), secondary stock sales, and debt issuances. An increase in mergers and acquisitions also contributed to the gains.
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