However, the results slipped from a bumper first quarter when Goldman Sachs reported its highest earnings since 2021
profit more than doubled in the second quarter, bolstered by debt underwriting and fixed-income trading, but results slipped from a bumper first quarter when the Wall Street giant reported its highest earnings since 2021.
Earnings were $3.04-billion, or $8.62 per share, for the three months ended June 30, compared with $1.22-billion, or $3.08 per share, a year earlier, the bank said on Monday. Revenue from fixed income, currency and commodities trading rose 17 per cent, boosted by FICC financing, which makes loans to institutional investors and others. Equities trading revenue increased 7 per cent.
Investors have supported the move, pushing the Wall Street titan’s stock up 24.4 per cent so far this year, compared with rivals Morgan Stanley’sThe asset and wealth management unit, which manages money on behalf of wealthy and institutional clients, reported 27 per cent higher revenue in the second quarter.
The bank’s provisions for credit losses were $282-million for the second quarter, compared with $615-million a year earlier.
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