- Second-quarter EPS of $3.70, beating the consensus estimate of an adjusted $2.89 a share, according to Bloomberg.
- Excluding items, first-quarter net income was $1.93 billion, exceeding the consensus estimate of $1.48 billion.
- Net revenue came in at $8.61 billion, surpassing estimate of $7.97 billion.
- Return on equity (ROE) was 10.5%, dropping from first-quarter ROE of 12.4%.
Updated from 7:57 a.m ET with analyst comments and afternoon share prices.
NEW YORK ( TheStreet) -- Goldman Sachs (GS) on Tuesday reported better-than-expected earnings after the bank's private equity and debt underwriting businesses performed strongly amid an end-of-quarter surge in interest rates.
Goldman's earnings were buoyed by record debt underwriting revenue and strong year-over-year growth across its trading, investment banking and private equity businesses.The bank's debt underwriting unit reported record quarterly revenue of $695 million, significantly beating estimates. Those earnings helped to drive flat investment banking revenue from the first quarter of 2013. The bulk of Goldman's earnings beat is attributable to better than forecast revenue of $1.42 billion from its Investing & Lending unit, driven by rising marks to the bank's private equity investments and its portfolio of securities. "The beat was primarily driven by investment gains in the Investing & Lending division, a lower than expected tax rate and a slight beat on
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