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Goldman Sachs profit soars on global dealmaking frenzy

US Materials 13 July 2021 16:39 (UTC +04:00)
Goldman Sachs profit soars on global dealmaking frenzy

Goldman Sachs Group Inc reported a surge in second-quarter profit on Tuesday as Wall Street's biggest investment bank cashed in on record global dealmaking activity, Trend reports with reference to Reuters.

Net earnings applicable to common shareholders rose to $5.35 billion in the three months ended June 30, from $2.25 billion a year earlier.

Earnings per share rose to $15.02 from $6.26 a year earlier. Analysts on average had expected a profit of $10.24 per share, according to the IBES estimate from Refinitiv.

The results were also boosted by a favorable comparison to a year earlier when the bank had set aside more funds to cover potential corporate loan losses due to the coronavirus pandemic.

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