LONDON, UK / ACCESSWIRE / July 21, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on The Goldman Sachs Group, Inc. (NYSE: GS), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=GS, following the Company's posting of its financial results on July 18, 2017, for the second quarter fiscal 2017 (Q2 FY17). The New York-based investment bank's quarterly diluted EPS 6% y-o-y, topping analysts' consensus estimates. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

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Earnings Reviewed

In Q2 FY17, Goldman Sachs's total net revenues fell to $7.89 billion from $7.93 billion in the prior year's comparable quarter. However, total net revenues outperformed Wall Street's consensus of $7.57 billion. In the reported quarter, the Company's total interest income surged 27% to $3.22 billion from $2.53 billion in Q2 FY16. Meanwhile, net non-interest income was down by 1% y-o-y during Q2 FY17 to $7.10 billion.

For Q2 FY17, the global investment bank's operating expenses came in at $5.38 billion, which was 2% lower than the $5.47 billion reported in Q2 FY16. The Company reported net earnings applicable to common shareholders of $1.63 billion, or $3.95 per diluted share, in Q2 FY17 compared with $1.63 billion, or $3.72 per diluted share, in Q2 FY16. Wall Street had expected the Company to report net earnings of $3.36 per diluted share in Q2 FY17.

Performance Metrics

For the reported period, Goldman Sachs' assets under supervision came in at $1.41 trillion compared to $1.31 trillion in the prior year's comparable quarter. Furthermore, the Company provided 8.7% of return on average common shareholders' equity in the reported period.

The bank's standardized Common Equity Tier (CET) 1 ratio stood at 13.9% as on June 30, 2017, compared to 14.2% as of March 31, 2017. Furthermore, Basel III Advanced CET 1 ratio was 12.5% as on June 30, 2017, compared to 12.9% as of March 31, 2017. The company's supplementary leverage ratio improved to 6.3% as on June 30, 2017 from 6.4% at the end of last quarter. As of June 30, 2017, book value per common share and tangible book value per common were $187.32 and $177.20, respectively.

Segment Performance

During the quarter ended on June 30, 2017, Investment Banking division's revenues came in at $1.73 billion, which was 3% below the $1.79 billion reported in the year ago same quarter. During the reported quarter, the Financial Advisory and Equity underwriting' revenues were down by 6% and 3% y-o-y, respectively. Revenues from debt underwriting came in flat during Q2 FY17 with respect to year ago corresponding quarter.

In Q2 FY17, Institutional Client Services' revenues declined 17% y-o-y to $3.05 billion from $3.68 billion in Q2 FY16. The fall in quarter division's revenue was due a 40% decline in revenues from Fixed Income, Currency, and Commodities Client Execution. Meanwhile, in Q2 FY17, there was a 17% and 5% y-o-y growth in Equities client execution and Securities services, respectively. Furthermore, revenue contribution from commissions and fees also grew by 3% y-o-y during Q2 FY17.

Investing & Lending division's revenue for Q2 FY17 came in at $1.58 billion, which was 42% above the $1.11 billion reported in the year ago same quarter. In the reported period, equity securities' revenues rallied 88% y-o-y, while debt securities and loans declined 18% y-o-y.

Additionally, Investment Management division's revenue rose 13% y-o-y in Q2 FY17 to $1.53 billion from $1.35 billion in Q2 FY16. For the division, incentive fees and transaction revenues surged 119% and 22%, respectively on a y-o-y basis in Q2 FY17; while management and other fees improved 9% y-o-y.

Buyback

The Company informed Wall Street that it had repurchased 6.6 million shares of its common stock worth $1.47 billion at an average cost per share of $221.92. Furthermore, the Company had 63.8 million shares remaining under its current existing repurchase program as of June 30, 2017.

Stock Performance

Goldman Sachs' share price finished yesterday's trading session at $222.30, marginally sliding 0.26%. A total volume of 3.49 million shares have exchanged hands, which was higher than the 3-month average volume of 3.39 million shares. The Company's stock price soared 1.94% in the last three months and 37.42% in the previous twelve months. Shares of the Company have a PE ratio of 11.81 and have a dividend yield of 1.35%. The stock currently has a market cap of $88.19 billion.

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