Why Shares of Goldman Sachs Are Rising Today

Shares of the investment bank Goldman Sachs (NYSE: GS) traded nearly 4% higher as of 10:29 a.m. ET today after the company reported earnings results for the second quarter of the year.

Goldman reported earnings per share of $7.73 on total revenue of $11.86 billion, both numbers that beat analyst estimates in the quarter.

Goldman saw investment banking revenue plummet more than 40% from the second quarter of 2021, which isn't exactly a surprise considering issuances such as initial public offerings have been practically nonexistent this year.

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Source Fool.com