GS Q2 2018 Earnings Report — The Goldman Sachs Group, Inc. Revenue & Financial Results | Market Cap Arena

The Goldman Sachs Group, Inc.GS

Q2 2018 Earnings

Reported August 2, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q2 2018	Q1 2018	Q2 2017	QoQ Change	YoY Change
Revenue	$13.6B	$13.4B	$10.3B	1.2%	31.3%
Op. Income	$3.3B	$3.4B	$2.5B	-4.2%	30.6%
Gross Margin	69.4%	74.9%	76.4%	-5.6pp	-7.1pp
Net Margin	18.9%	21.1%	17.7%	-2.2pp	1.2pp
EPS (Diluted)	$5.98	$7.19	$3.95	-16.8%	51.4%
Free Cash Flow	$6.4B	-$2.5B	-$11.2B	353.7%	157.4%

Revenue Flow

Item	Amount
REVENUE	$13.6B
Cost of Revenue	$4.2B
GROSS PROFIT	$9.4B
R&D Expenses	$0
Selling & Marketing	$183M
General & Administrative	$3.4B
SG&A Expenses	$3.6B
Other Expenses	$2.5B
Operating Expenses	$6.1B
Cost & Expenses	$10.3B
OPERATING INCOME	$3.3B
Interest Income	$4.9B
Interest Expense	$3.9B
Other Income/Expenses	$0
INCOME BEFORE TAX	$3.3B
Income Tax Expense	$711M
Net Income from Continuing Ops	$2.6B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.6B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.3B
D&A	$335M
EBIT	$3.3B
EBITDA	$3.6B
EPS	$6
EPS Diluted	$6

Income Statement

Item	Amount
REVENUE	$13.6B
Cost of Revenue	$4.2B
GROSS PROFIT	$9.4B
R&D Expenses	$0
Selling & Marketing	$183M
General & Administrative	$3.4B
SG&A Expenses	$3.6B
Other Expenses	$2.5B
Operating Expenses	$6.1B
Cost & Expenses	$10.3B
OPERATING INCOME	$3.3B
Interest Income	$4.9B
Interest Expense	$3.9B
Other Income/Expenses	$0
INCOME BEFORE TAX	$3.3B
Income Tax Expense	$711M
Net Income from Continuing Ops	$2.6B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.6B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.3B
D&A	$335M
EBIT	$3.3B
EBITDA	$3.6B
EPS	$6
EPS Diluted	$6

Cash Flow Statement

Item	Amount
Net Income	$2.6B
Depreciation & Amortization	$335M
Stock-Based Compensation	$176M
Deferred Income Tax	$0
Other Non-Cash Items	$68M
Change in Working Capital	$5.3B
OPERATING CASH FLOW	$8.6B
Capital Expenditure	-$2.2B
Acquisitions (Net)	-$81M
Purchases of Investments	-$12M
Sales/Maturities of Investments	$120M
Other Investing Activities	-$1.4B
NET CASH FROM INVESTING	-$3.6B
Net Debt Issuance	$3.4B
Common Stock Repurchased	$0
Common Dividends Paid	-$531M
Other Financing Activities	$3.0B
NET CASH FROM FINANCING	$5.9B
FREE CASH FLOW	$6.4B
Net Change in Cash	$10.9B

Balance Sheet

Item	Amount
Cash & Equivalents	$131.4B
Short-Term Investments	$135.2B
Net Receivables	$95.9B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$362.5B
PP&E (Net)	$17.1B
Goodwill	$3.8B
Intangible Assets	$349M
Long-Term Investments	$422.9B
Tax Assets	$0
Other Non-Current Assets	$161.9B
TOTAL NON-CURRENT ASSETS	$606.1B
TOTAL ASSETS	$968.6B
Account Payables	$192.6B
Short-Term Debt	$152.0B
Deferred Revenue	$0
Other Current Liabilities	$153.4B
TOTAL CURRENT LIABILITIES	$503.5B
Long-Term Debt	$239.4B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$139.1B
TOTAL NON-CURRENT LIABILITIES	$378.5B
TOTAL LIABILITIES	$882.0B
Common Stock	$9M
Additional Paid-In Capital	$54.0B
Retained Earnings	$95.9B
Treasury Stock	-$76.2B
Accum. Other Comp. Income	-$958M
Other Equity	$2.6B
TOTAL STOCKHOLDERS' EQUITY	$86.6B
Minority Interest	$0
TOTAL EQUITY	$86.6B
TOTAL LIABILITIES & EQUITY	$968.6B
Total Debt	$391.4B
Net Debt	$259.9B