Goldman's investment banking unit generated its second highest quarterly net revenues ever thanks to a red-hot IPO market. : Goldman Sachs reported second-quarter earnings on Tuesday that handily exceeded analysts' estimates. Investment banking generated its second highest quarterly net revenues ever, just behind the first quarter of 2021, thanks in large part to a robust IPO market. The strong numbers in that segment offset a slowdown in Goldman's trading business. Investment banking revenue climbed to $3.61 billion, higher than the $2.92 billion estimated by analysts surveyed by Bloomberg.