Goldman Sachs sees securities service revenue increase
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Goldman Sachs sees securities service revenue increase 17 July 2014New York Reporter: Mark Dugdale
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Goldman Sachs’s securities services revenue rose 6 percent in Q2 2014 over the previous quarter, but fell 1 percent year over year.
It earned $373 million from securities services in Q2 2014, beating the previous quarter’s figure of $352 million.
But in Q2 2013, Goldman Sachs earned $376 million from securities services.
“Securities services net revenues were essentially unchanged compared with the second quarter of 2013. During the quarter, equities operated in an environment generally characterised by continued low volatility levels,” commented Goldman Sachs in its results.
Lloyd Blankfein, chairman and CEO, said: “We are pleased with our results for the quarter in the context of mixed operating conditions during the period.”
“This performance was driven by the diversity, strength and breadth of our global client franchise. Good client activity in investment banking and investment management as well as a better environment for our investing and lending activities helped offset less favourable conditions for institutional client services.”
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