Goldman Sachs, Quarterly Earnings | featured news

Goldman Sachs says its net income fell 11 percent in the April-to-June period after the investment bank's clients made fewer deals and avoided volatility in global financial markets. The New York bank said its net income fell to $962 million, or $1.78 per share, for the quarter. That compares with $1.09 billion, or $1.85 per share, a year ago. It's also far more than the $1.17 per share that analysts were expecting.

Goldman Sachs Group Inc reported higher-than-expected quarterly earnings thanks to aggressive cost-cutting and strong investment banking and trading revenues, and the Wall Street bank raised its dividend.

Goldman Sachs Group Inc posted a 53 percent decline in quarterly profit on Wednesday, in part reflecting lower results in fixed-income trading.