Goldman Sachs 2Q earnings decline, but top estimates

Goldman Sachs Group Inc. says second quarter profit fell to $2.42 billion from $2.57 billion a year ago.

The company, based in New York, said it had earnings of $5.81 per share, down from $5.98 per share.

The results still exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $4.73 per share.

The investment bank posted revenue of $14.15 billion in the period. Its revenue net of interest expense was $9.46 billion, which also topped Street forecasts.

Goldman shares have increased 27% since the beginning of the year, while the Standard & Poor's 500 index has risen 20%. The stock has decreased roughly 7% in the last 12 months.

Portions of this story was generated by Automated Insights (https://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GS at https://www.zacks.com/ap/GS