- NEW YORK: Goldman Sachs Group’s net income rose during the second quarter but fell short of lowered market expectations as fixed income trading revenue dropped sharply.
The biggest US investment bank by assets earned $1.05 billion, or $1.85 per share, more than double the $453 million, or 78 cents per share, of a year earlier, Goldman said.
Revenue dropped 17.6 percent to $7.3 billion, while expenses fell a more dramatic 23.3 percent. Fixed income, currency and commodities trading revenue fell 53 percent to $1.6 billion.
Analysts, on average, had forecast earnings of $2.27 per share on revenue of $8.1 billion, according to Thomson Reuters I/B/E/S.