Profits for the New York investment bank in the second quarter were $6.4 billion, up 84 percent from the year-ago level, while revenues jumped 39 percent to $20.3 billion.
Image: AP Photo/Richard Drew
Goldman Sachs reported strong second-quarter results Tuesday propelled by robust activity in its trading businesses and increases in revenues tied to merger activity and underwriting.
Profits for the New York investment bank in the second quarter were $6.4 billion, up 84 percent from the year-ago level, while revenues jumped 39 percent to $20.3bn.
Goldman enjoyed gains across most aspects of its global banking and markets division, with particular strength in equities, where revenues surged 72 percent to $7.4bn.
The firm also garnered "significantly higher" revenues in fixed income, "higher" net revenues in mortgages and "slightly higher" revenues in currencies.
Advisory fees climbed for initial and secondary public offerings, debt underwriting and completed mergers and acquisitions.
Chief Executive David Solomon expects the good times to continue, saying "given what we see in our pipelines, we expect the flywheel of activity to continue."
Shares of Goldman Sachs rose 2.3 percent in pre-market trading.
AFP