Investment bank Goldman Sachs Group (GS) posted an impressive profit of $1.93 billion, or $3.70 a share, for the second quarter, which is an increase from income of $962 million, or $1.78 a share, in the same quarter of 2012.
The investment and lending segment of the mega bank posted record revenue gains in the second quarter as it did for the same time period last year.
Net revenues in investing and lending were $1.42 billion for the second quarter, including net gains of $462 million from investments in equities — primarily in private equities and net gains.
Additionally, the unit recorded net interest income of $658 million on debt securities and loans, and other net revenues of $295 million related to the firm’s consolidated investments.
In premarket trading Goldman witnessed its shares rise. However, once its earnings were released, the banking giant saw its stock dip dramatically.
Nonetheless, the uptick in economic improvements benefited Goldman as the firm ranked first in worldwide equity and equity-related offerings, common stock offerings and initial public offerings for the year-to-date.