India, July 16 -- Goldman Sachs Group, Inc. (GS) reported Wednesday that net profit for the second quarter increased 20 percent from last year, reflecting significantly lower provisions for bad loans and 15 percent revenue growth. Both earnings per share and quarterly revenues topped analysts' expectations. The company also declared a 33 percent higher quarterly dividend.
"Our strong results for the quarter reflected healthy client activity levels across our businesses, our differentiated franchise positions and the talent and commitment of our people," said David Solomon, Chairman and CEO.
For the quarter, net earnings applicable to common shareholders increased to $3.47 billion or $10.91 per share from $2.89 billion or $8.62 per share i...