Goldman Sachs on Monday posted profit and revenue that exceeded analysts’ estimates as fixed income traders generated roughly $700 million more revenue than expected.
Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:
- Earnings per share: $7.73 vs. $6.58 expected
- Revenue: $11.86 billion vs. $10.86 billion expected
Second-quarter profit fell 48% to $2.79 billion, or $7.73 a share, driven by industrywide declines in investment banking revenue. Still, the per share results were more than a dollar higher than the average analyst estimate reported by Refinitiv.
Revenue fell 23% to $11.86 billion, which was a full $1 billion…