Goldman Sachs posts record trading revenue as markets stay volatile

Goldman Sachs earned $4.3 billion from stock trading in the second quarter—the highest in Wall Street history.

The earnings beat analyst expectations by $600 million and topped its first-quarter results by $100 million.

The rise came as global market volatility, driven by trade tensions, boosted demand for trading services.

Unlike rivals like Morgan Stanley and JPMorgan, whose trading revenues slipped, Goldman’s performance stood out.

Its fixed-income trading also brought in $3.47 billion, while investment banking fees hit $2.19 billion. Financial advisory revenue jumped 71% thanks to a wave of high-value mergers and acquisitions.

Despite the strong results, Goldman’s stock fell 1% in early trading. Still, shares remain up 22% for the year. 

The bank continues to cut costs, reducing its workforce by 700 and moving jobs to lower-cost cities in India and Poland, and Dallas, Texas.

Meanwhile, shareholders approved large bonuses for top executives, rewarding strong leadership during a volatile quarter.