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Goldman 2Q profit tops forecast on strong trading revenue

July 15, 2020

Via: ABC News

NEW YORK — Investment bank Goldman Sachs posted a massive 41% rise in revenues in the second quarter, the bank said Wednesday, helped by a blowout performance by the bank’s trading desks.

The New York-based bank had second quarter revenues of $13.3 billion, which is up from $9.46 billion in the same period a year ago. That helped keep the bank’s second-quarter profits flat at $2.42 billion, making up for the money the bank set aside to cover legal expenses and potentially bad loans caused by the coronavirus pandemic.

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