UPDATE: Goldman Sachs Posts Upbeat Q2 Profit

Goldman Sachs Group

reported a rise in its second-quarter net earnings. Goldman Sachs's quarterly net profit surged to $1.93 billion, or $3.70 per share, versus $962 million, or $1.78 per share, in the year-ago quarter. Its net profit applicable to common shareholders jumped to $1.86 billion versus $927 million. Its revenue gained to $8.61 billion from $6.63 billion. However, analysts were projecting earnings of $2.79 per share on revenue of $7.95 billion. Its quarterly investment banking revenue climbed 29% to $1.55 billion. Goldman Sachs shares gained 0.74% to $164.20 in pre-market trading.