Goldman Sachs Beats Estimates Amid Surge in Investment Banking, Bond-Trading Revenue

Goldman Sachs' (GS) - Get Report second quarter earnings crushed estimates, thanks to a double-digit gain in revenue from two key areas: investment banking and fixed income trading. Earnings of $3.72 a share topped estimates of $3 a share, while revenue of $7.93 billion eclipsed forecasts of $7.58 billion. Investment banking revenue rose 22 percent from first quarter to $1.79 billion, though slipped 11 percent year-over-year. Trading in fixed income, currency and commodities gained 20 percent year-over-year. TheStreet's Scott Gamm speaks with Josh Mahony, a market analyst with IG Markets, based in London.