高盛 Goldman Sachs Group Inc. (GS) 2025年第二季度财务业绩演示报告「NYSE」（英文版）（15页）.pdf

1、Second Quarter 2025Earnings Results PresentationJuly 16,20251Annualized ROE1Annualized ROTE1Book Value Per Share$in millions,except per share amounts2Q252Q25 YTDPre-tax earnings:AWM historical principal investments5$(136)$(196)General Motors(GM)Card/Seller financing(1)(35)Total impact to pre-tax ear

2、nings$(137)$(231)Impact to net earnings$(104)$(184)Impact to EPS$(0.33)$(0.57)Impact to ROE(0.4)pp(0.4)pp Selected Items4Quarterly Highlights 2Q252Q25 YTD 12.8%14.8%2Q252Q25 YTD 13.6%15.8%2Q25 YTD Growth$349.743.9%Results Snapshot#1 in announced and completed M&A;#2 in equity&equity-related,high-yie

3、ld debt and leveraged loan offerings2 Record Equities net revenues and strong Advisory net revenues;Record financing net revenues in both Equities and FICCIncreased quarterly dividend by 33%to$4.00 per common share in 3Q25Record AUS3 of$3.29 trillion;30th consecutive quarter of long-term fee-based n

4、et inflows“Our strong results for the quarter reflected healthy client activity levels across our businesses,our differentiated franchise positions and the talent and commitment of our people.At this time,the economy and markets are generally responding positively to the evolving policy environment.

5、But as developments rarely unfold in a straight line,we remain very focused on risk management.Given the strategic decisions and investments weve made,we continue to believe that the firm is well positioned to perform for our shareholders.”David Solomon,Chairman and Chief Executive OfficerNet Revenu

6、esNet EarningsEPS2Q252Q25 YTD$14.58 billion$29.65 billion2Q252Q25 YTD$3.72 billion$8.46 billion2Q25 2Q25 YTD$10.91$25.07Financial OverviewFinancial ResultsFinancial Overview Highlights 2Q25 results included EPS of$10.91 and ROE of 12.8%2Q25 net revenues were higher YoY,reflecting significantly highe