Double Earning of Goldman Sachs in 2013 Second Quarter

Double Earning of Goldman Sachs in 2013  Second Quarter:  Goldman Sachs announced its Second Quarter Financial Results in 2013 here the details below. Goldman Sachs said its second-quarter profit doubled as a giant investment bank saw its turnover increase by 30%, while sales of shares and subscription of bonds has risen by almost half. Goldman generated $ 1930000000 for the three months ended June 30, or $ 3.70 per share. Average estimate of $ 2.87 per share of net income in accordance with FactSet.Firma practical results exceeded analysts earned $ 927 million, or $ 1.78 per share in the second quarter of 2012. Revenues increased by $ 8.6 billion.

"It was difficult in that quarter is still a dynamic market environment,'' Chief Financial Officer Harvey Schwartz said during a teleconference.  Despite the successes, the shares of Goldman fell 1.7% Tuesday to $ 2.76 to $ 160.24.

One reason may be the fact that almost two-thirds of the growth in sales of its historically volatile activity in equities and bonds into shares of the company.  Bank has nearly tripled its income from investments in bonds, which it owns, to 658 million euros, the company said. Equity investments of $ 462 million in revenue, compared with a negative impact of $ 306 million in the second quarter of last year. These numbers fluctuate because Goldman adjusts its quarterly results, taking into account the fluctuations in the value of these positions, a spokesman David Wells.

In addition, banks such as JP Morgan Chase and Citigroup could be used to improve the rate of profit a rapidly changing environment, said Edward Jones analyst Tom Lewandowski. Sales of Goldman sell bonds, currencies and commodities for clients increased 12% to $ 2.5 billion.  "Sometimes volatility stimulates trade, and we were obviously volatility at the end of the quarter,'' said Lewandowski.  Goldman announced dividend 50 cents per share, unchanged from last quarter.