Goldman Sachs profit falls 11 per cent

Goldman Sachs Group Inc reported an 11 per cent drop in first-quarter profit as client activity remained constrained and fixed-income revenue shrank.

The Wall Street bank said on Thursday its net income fell to$1.95 billion, or $4.02 per share, in the first three months of the year from $2.19 billion, or $4.29 per share, in the same period of 2013.

Analysts on average had expected earnings of $3.45 per share, according to Thomson Reuters I/B/E/S. It was not immediately clear if the reported earnings were comparable.

Goldman's rivals also reported a drop in revenue from fixed-income trading in the quarter, but Goldman has more at stake than others because it has a less diverse business mix.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • The current value of the rupee does not merit market intervention

    The rupee, losing 40 paise per month against the dollar since May, is expected to remain under pressure till the calendar runs out on December 31, bef

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Tushar Gandhi

Sustainable model for rural sanitation

Prime minister Narendra Modi has promised to build a toilet ...

Zehra Naqvi

How smells evoke strong memories

Remember that time when a passing fragrance transported you to ...

Dharmendra Khandal

Indian zoos need a fresh approach

Recently, when a man jumped in a tiger trench of ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture