(Reuters) – Goldman Sachs’ profit more than doubled in the second quarter, helped by higher fees from debt underwriting and a strong performance in its bond trading business.
Quarterly profit rose to $3.04 billion, or $8.62 per share, from $1.22 billion, or $3.08 per share, a year earlier, the bank said Monday.
“We are pleased with our strong second quarter results and our overall performance in the first half, which reflected strong year-over-year growth in both Global Banking & Markets and Asset & Wealth Management,” said David Solomon, the bank’s chief executive, in a statement.
Goldman Sachs’ investment banking revenue rose 21% to $1.73 billion in the quarter, driven by higher fees from debt and equity underwriting and mergers and acquisitions advisory services.
Revenues from fixed income, foreign exchange and commodities (FICC) operations increased by 17%.
Goldman Sachs raised its quarterly dividend to $3 per share from $2.75.
On the New York Stock Exchange, the bank’s stock initially gained more than 1% in pre-market trading before reversing downward, with second-quarter results marking a slowdown from a record first quarter.
(Reporting by Niket Nishant in Bangalore and Saeed Azhar in New York; by Elena Smirnova, edited by Blandine Hénault)
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