Goldman profits fall 21% from year ago, hurt by trading


FILE – In this April 10, 2019, file photo, Goldman Sachs chairman and CEO David Solomon testifies before the House Financial Services Commitee during a hearing in Washington. Goldman Sachs said its first quarter earnings fell by 21% from a year earlier, hurt by a slowdown in trading. Solomon described the quarter as a “muted start to the year,” in a written statement. (AP Photo/Patrick Semansky, File)
Patrick Semansky

NEW YORK — Goldman Sachs said its first quarter earnings fell by 21% from a year earlier, hurt by a slowdown in trading.

The investment bank earned a profit of $2.25 billion, or $5.71 a share, down from a profit of $2.83 billion, or $6.95 a share, in the same period a year earlier. The results did beat analysts’ expectations, however. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $4.74 per share.

Goldman’s profits were primarily hurt by their trading …read more

Source:: Deseret News – Business News

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