Goldman Sachs: second-quarter net profit up slightly.

(CercleFinance.com) - Goldman Sachs reported a slight increase in second-quarter net profit on Tuesday, driven by higher revenue from its underwriting and M&A businesses.


The Wall Street bank earned 1.83 billion dollars, or 4 dollars per share, in the three months ended 30 June, up from 1.82 billion dollars, or 3.77 dollars per share, in the same period a year earlier.

However, its net revenues fell by 1% to 7.89 billion dollars.

Goldman Sachs said revenue in fixed income, currency and commodities fell 40% in the second quarter, due to significantly lower net revenues in fixed income products, commodities, credit products and currencies.

The bank's net revenues in investing and lending were 42% higher than the second quarter of 2016, while revenue fell 15%, with net gains from private equities.

Equities generated their highest quarterly results in two years with net revenues up 13% relative to first-quarter, the firm said.

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