Goldman Sachs profit doubles

Source:Agencies Published: 2013-7-16 23:03:01

Goldman Sachs Group Inc's quarterly profit doubled, beating Wall Street estimates by a wide margin, as the bank made more from investing its own money and from underwriting.

Goldman's net income rose to $1.86 billion, or $3.70 per share, in the second quarter from $927 million, or $1.78 per share, in the same quarter last year.

The bank's net revenue rose 30 percent to $8.61 billion.

The bond market has been a big breadwinner for the bank over the past decade, delivering nearly half of the company's revenue in the best year.

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