US banking giant Goldman Sachs has posted a net profit of $3.44 billion for the second quarter, widely topping market expectations for profit and revenue.
Revenue amounted to $13.76 billion in the quarter, the Wall Street company said.
The results represent a 33% rise from a year earlier as a strong gain in trading was offset by a once-off $426m charge to repay US government loans.
'While markets remain fragile and we recognise the challenges the broader economy faces, our second-quarter results reflected the combination of improving financial market conditions and a deep and diverse client franchise,' Lloyd Blankfein, Goldman's chairman and chief executive, said in a statement.
Goldman, the first major US bank to report second-quarter earnings, said trading income jumped 93% from a year ago, while its equity underwriting business produced record revenue of $736m.
