Goldman Reports Record Profit

The national deficit may be soaring, but that hasn't stopped Goldman Sachs from reporting its highest quarterly profit: its net income rose to $3.44 billion, or $4.93 a share, up from last year's $2.05 billion, or $4.58 a share, the company reported on Tuesday. The earnings exceeded the expectations of 22 analysts surveyed by Bloomberg. Revenue at Goldman this year totaled $13.76 billion in the second quarter—up from $9.42 billion last year.