(New York) US investment bank Goldman Sachs announced on Monday that its net profit more than doubled in the second quarter, benefiting from the evolution of financial markets as well as activity in the mergers and acquisitions sector.
It posted revenue of $12.73 billion, compared with $10.89 billion a year earlier, and net profit was $2.89 billion, compared with $1.07 billion in the second quarter of the previous year.
Reported per share and on a comparable basis (reference for the markets), net profit stood at 8.62 dollars when the consensus of Factset analysts expected 8.36 dollars.
Referring to the group’s performance in the first half of the year, its boss David Solomon highlighted in a press release the “strong growth over one year” in the Global banking and markets (mergers and acquisitions, IPOs, capital raising) and Asset management and wealth management branches.
The first saw its turnover increase by 14% over a year to 8.18 billion dollars while that of the second jumped by 27% compared to the same period of the previous year, to 3.88 billion dollars.
The group claims in its press release to have placed itself at the forefront of merger and acquisition operations announced and finalized since the beginning of the year throughout the world.
The level of assets under management reached a record of 2.93 trillion dollars at the end of June, or 86 billion more collected during the second quarter.
In electronic trading before the opening of the New York Stock Exchange, Goldman Sachs shares were stagnant (+0.07%).