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Goldman Sachs beats estimates as earnings double

Company's second-quarter net income rises to $1.93 bn from $962 million a year earlier

Bloomberg  |  New York 

Goldman Sachs Group Inc said earnings doubled, beating analysts' estimates on a surge in underwriting revenue and gains from the firm's own investments. Second-quarter net income rose to $1.93 billion, or $3.70 a share, from $962 million, or $1.78, a year earlier, the New York-based company said on Tuesday in a statement. That beat the $2.89 average estimate of 27 analysts in a Bloomberg survey. Gains from the firm's debt investments almost tripled and fixed-income trading climbed 12 per cent as Chief Executive Officer Lloyd C. Blankfein, 58, led Goldman Sachs through a ...

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First Published: Wed, July 17 2013. 00:32 IST