Investment Banks Shine in Q2 Earnings, Except for One Laggard

Investment banking and brokerage stocks have reported strong Q2 earnings, beating analysts' consensus estimates by 4.5%. Revenues of $20.34 billion at Goldman Sachs GS exceeded expectations by 23.7%, with the company reporting the biggest analyst estimate beat and fastest revenue growth among its peers.

Perella Weinberg PWP also performed well, with revenues of $156.5 million beating analysts' expectations by 8.1%. The stock is up 10.1% since reporting.

Houlihan Lokey HLIF had a disappointing quarter, with revenues down 15.6% year on year and falling short of analysts' expectations by 16.3%. Moelis MC reported revenues of $409.4 million, topping analysts' estimates by 5.6%