Goldman Sachs Group Inc., the first major U.S. bank to report its quarterly earnings, handily topped expectations as it reported a second-quarter profit of $2.72 billion US.
The New York-based bank told investors it made $4.93 a share after deducting preferred share dividends.
Goldman's second-quarter net revenue totalled $13.76 billion.
Analysts had been projecting Goldman would make $3.54 a share for the quarter on revenue of $10.66 billion.
The most recent results topped the $1.66 billion, or $3.39 a share, that the bank made in the second quarter of last year.
Goldman said it took a charge of 78 cents a share to repay the $10 billion US that it received from the U.S. government as part of the Troubled Asset Relief Program.
The bank benefited from a surge in new debt and equity offerings from companies in need of cash.
Goldman made a record $736 million in net revenues via underwriting stock offerings in the second quarter. The company's total underwritings produced $1.07 billion in revenue.
In addition, trading in fixed income, currencies and commodities added a record $6.8 billion in revenues, while equities trading produced $3.18 billion in revenues.
Goldman stock rose 22 cents to $149.66 in New York. On Monday, when the profit increase was widely predicted, it rose $7.73 to $149.62.
With files from The Associated Press
