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Deutsche Bank Surprises With Profit Beat Welcomed by Investors

  • Lender’s shares jump after preliminary results beat estimates
  • Analysts say unclear whether underlying pain has been eased
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The surprise beat comes as CEO Christian Sewing cuts thousands of jobs and pares back U.S. and Asia operations.Source: Bloomberg
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So how good was Deutsche Bank AG’s second quarter really? That depends a lot on the fine print you won’t see until later this month.

The German lender surprised markets on Monday with better-than-expected preliminary earnings. Much of the gains in the second quarter seemed to come from one-off items while trading income fell sharply. That called into question the bank’s assertion that the figures demonstrate the lender’s resilience.