Deutsche Bank (DB) Beats the Street's Q2 Estimates, But Traders Selling

Deutsche Bank (NYSE: DB) reported its Q2 results last night.

The European bank reported a 67% jump in quarterly net income, from €1.27 in Q208 to €1.64. On the sales front, revenue jumped 46% to €7.9 billion from €5.4 billion in the same quarter last year.

Shares of Deutsche are tumbling this morning, currently down nearly 12% to $65.15.

Also impacting the stock following the results, we have two analyst calls: UBS downgraded the stock to Neutral, while FBR Capital downgraded the stock to Market Perform.

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