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Goldman Stock Traders Buck Wall Street Trend on Revenue Jump

  • Investment-banking revenue also comes out ahead of estimates
  • Earnings per share exceed analysts’ estimates, stock advances
Bloomberg business news
Mark McCormick of TD Securities and Bloomberg Intelligence’s Alison Williams examine Goldman’s 2Q results.Daybreak: Americas." (Source: Bloomberg)
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Goldman Sachs Group Inc.’s trading division offered investors something its rivals couldn’t: a bright spot.

The firm’s stock traders delivered a surprise revenue increase, driving Goldman’s securities unit to a smaller decline than analysts had predicted for the second quarter. Citigroup Inc. and JPMorgan Chase & Co., which announced results earlier, reported bigger-than-anticipated drops from their trading desks.