Goldman Sachs quarterly profit jumps 78%
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Bengaluru: Goldman Sachs Group Inc reported a 78% jump in quarterly profit as the Wall Street bank earned more from bond trading and its expenses fell.
Net income applicable to Goldman’s common shareholders rose to $1.63 billion, or $3.72 per share, in the second quarter ended 30 June from $916 million, or $1.98 per share, a year earlier, when Goldman set aside $1.45 billion for regulatory and mortgage-related legal settlements.
Analysts on average had expected earnings of $3.00 per share, according to Thomson Reuters I/B/E/S. It was not immediately clear if the reported figures were comparable.
Total operating expenses fell 25.5% to $5.47 billion.
Revenue from trading fixed income, commodities and currency rose 20% to $1.93 billion. Reuters