What changed
Q2 revenue rose 17% YoY to a record $4.0B, with fee revenue up 17% to $3.19B and net interest income up 18% to $860M. EPS surged 68% to $3.65, ROE hit 16.7%, and pre-tax margin expanded to 34.3%. Record AUC/A of $57.9T and AUM of $6.3T drove the tenth consecutive quarter of positive operating leverage.
Why it matters
Q2 revenue rose 17% YoY to a record $4.0B, with fee revenue up 17% to $3.19B and net interest income up 18% to $860M. EPS surged 68% to $3.65, ROE hit 16.7%, and pre-tax margin expanded to 34.3%. Record AUC/A of $57.9T and AUM of $6.3T drove the tenth consecutive quarter of positive operating leverage.