Goldman Sachs Q2 2024 Earnings: Top-Tier Results, Concerns On Forward Outlook

Summary:

  • Banks are recession favorites due to their high exposure to advisory and lending activities during tough times.
  • In the year so far, Goldman Sachs has netted earnings on par with all of 2023. However, the deal-making landscape going forward is likely to be very challenging.
  • Goldman Sachs is working on shedding its exposure to the highly stressed credit card industry and transforming more into an advisor for businesses.

Business on Wall Street in Manhattan

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Banks are recession favorites for a number of good reasons: when rates stay high, lending activities generate greater revenue. When crunch times hit businesses, advisory services regarding restructuring, debt underwriting, et al. generate greater revenue. Banks tend


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