Goldman Sachs Q2 Profits Surge with Trading Gains

Goldman Sachs reported a significant surge in second-quarter profits, driven by robust performances in debt underwriting and fixed-income trading. The bank's earnings more than doubled to $3.04 billion, or $8.62 per share, surpassing analysts' expectations of $2.8 billion, reflecting a 150% increase from the previous year. This growth was aided by a revival in investment banking activities and a strategic refocus on traditional banking and trading services. Investment banking fees rose 21%, with notable increases in debt and equity underwriting. The firm's asset and wealth management division also saw a 27% revenue rise. Despite the strong results, Goldman’s investment banking performance lagged behind peers like JPMorgan Chase and Citigroup in some areas.