BlackRock and Goldman Sachs reported record Q2 results, significantly surpassing market expectations. Both firms benefited from robust capital markets and healthy client inflows. BlackRock’s assets under management (AUM) surpassed $15 trillion, with Q2 revenue at $7.08 billion, exceeding estimates of $6.82 billion. Meanwhile, Goldman Sachs saw a revenue surge of 39% year-over-year to $20.33 billion, well above expectations of $16.49 billion.
BlackRock reported adjusted net income of $2.29 billion, equating to $13.91 per share, beating expectations of $12.67 by nearly 10%. Goldman Sachs’ adjusted net income reached $6.63 billion with EPS of $20.98, nearly doubling from the previous year and exceeding estimates by 45%. Both companies are optimistic about future conditions, with Goldman’s annualized return on equity at 23.5% fueled by a 53% revenue increase in its Global Banking & Markets division.
The stock performance difference reflects profoundly: in the last three years, Goldman’s shares increased over 230%, while BlackRock’s rose 50%. BlackRock offers a more attractive dividend yield of 2.1%, compared to Goldman’s 1.56%. Looking forward, Goldman Sachs holds a Zacks Rank #2 (Buy), while BlackRock is at Rank #3 (Hold).
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