Goldman Sachs profit doubles on stronger bond trading

Lloyd Fonzie Blankfein

Goldman Sachs Group quarterly profit doubled as the bank made more money trading bonds before an interest-rate spike hit markets in June.

Goldman's net income rose to $1.86 billion, or $3.70 per share, from $927 million, or $1.78 per share, in the same quarter a year earlier.

Analysts had expected the company to report earnings excluding items of $2.82 a share on $7.98 billion in revenue, according to a consensus estimate from Thomson Reuters.

Goldman Sachs shares traded higher following the news in pre-market trading.

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