www.varchev.com

Goldman’s stock drops as profit falls below expectations

Shares of Goldman Sachs Group Inc. dropped 1.3% in premarket trading Tuesday, after the bank and broker reported a third-quarter profit that fell more than expected, while revenue topped forecasts, although investment banking revenue fell shy. Net income declined to $1.79 billion, or $4.79 a share, from $2.45 billion, or $6.28 a share, in the year-ago period. The FactSet consensus for earnings per share was $4.81. Revenue fell 6% to $8.32 billion, just above the FactSet consensus of $8.31 billion. Investment banking revenue fell 15% to $1.69 billion, below the expectations of $1.71 billion, while institutional client services revenue rose 6% to $3.29 billion to beat expectations of $3.19 billion. Equities revenue rose 5% to $1.88 billion to top expectations of $1.79 billion and fixed income, currency and commodities (FICC) revenue grew 8% to $1.41 billion to beat expectations of $1.37 billion.


 Trader Milko Zashev


Read more:
RECCOMEND WAS THIS POST USEFUL FOR YOU?
If you think, we can improve that section,
please comment. Your oppinion is imortant for us.
WARNING: Any news, opinions, research, data or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. Varchev Finance Ltd. expressly disclaims any liability for any lost principal or profits which may arise directly or indirectly from the use of or reliance on such information. Varchev Finance Ltd. may provide information, quotes, references and links to or from other sites and blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the sites, blogs or other sources of information.
Varchev Finance