Goldman Sachs posted earnings Tuesday that easily beat expectations on the top and bottom lines, sending shares higher in premarket trading. Traders reacted positively despite another sharp pullback in trading.
The bank reported:
- Earnings of $5.02 per share vs. $4.17 expected by Thomson Reuters.
- Revenue of $8.33 billion vs. $7.54 billion expected.
Goldman has struggled of late in some respects but particularly trading, where fixed income, currencies and commodities revenue plunged 40 percent in the second quarter. Investment and lending also have seen steep decreases this year.