Goldman Sachs Group’s earnings were great … until you look at the details

Financial Post | Business

Goldman Sachs may have just crushed earnings estimates, but that’s in no way the whole story here. To get the bigger picture of how the bank (and thus The Street) is faring you need to look at debt and equity underwriting, sales and trading, and the bank’s return on equity (ROE)  all together.

[np_storybar title=”Goldman Sachs profit doubles on stronger bond trading” link=”http://business.financialpost.com/2013/07/16/goldman-sachs-profit-doubles-on-stronger-bond-trading/”]Wall Street banker crushes estimates. Here are the numbers
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That’s when things get a little more complicated. Even though things are looking great year over year, a slight rise in interest rates and additional volatility in the market held Goldman down in Q2.

Yes, that was expected across the Street, but it still contributes to the bank’s less than stellar ROE and shows that the banking business is still struggling toward boom times.

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This isn’t to take away from Goldman’s earnings beat. Q2 is a traditionally…

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