Goldman Sachs Group has reported net earnings of $613m, or $0.78 per diluted share, for its second quarter ended June 30, 2010, compared to $3.43bn, or $4.93 per diluted share, for the same quarter of 2009.

Excluding the impact of the $600m related to the UK bank payroll tax and the $550m related to the SEC settlement, diluted earnings per common share were $2.75 for the second quarter of 2010 and annualized ROE was 9.5% for the second quarter of 2010 and 14.8% for the first half of 2010.

Net revenues for the second quarter of 2010 declined to $8.84bn from $13.76bn in the corresponding quarter of 2009.

For the first six months of 2010, Goldman Sachs’s net earnings were $4.07bn, or $6.41 per diluted share, compared to $5.25bn, or $8.42 per diluted share, for the same period in 2009.

For the first half of 2010, the company’s net revenues declined 7% to $21.62bn from $23.19bn in the same half of 2009.

Lloyd Blankfein, chairman and CEO of Goldman Sachs Group, said: “The market environment became more difficult during the second quarter and, as a result, client activity across our businesses declined. Looking ahead, we remain focused on helping our clients to raise capital, manage risk and invest for the future, which are all important to economic growth.”