- 19Oct
Goldman Sachs Group Inc (GS.N), the dominant U.S. investment bank, said its quarterly profit fell by more than a third after low trading volumes dragged on earnings.
The bank said third-quarter shareholder net income fell to $1.9 billion, or $2.98 a share, from $3.19 billion, or $5.25 a share a year earlier.
Analysts on average expected a profit of $2.32 a share, according to Thomson Reuters I/B/E/S.
New York-based Goldman has found itself in the crosshairs of regulators this year, first defending against fraud charges from the U.S. Securities and Exchange Commission, and then preparing to reshape trading businesses to comply with the financial regulation reform bill.
Trading profits, which motored Goldman's historic rebound from the financial crisis, have weakened.
Goldman shares were up 1 percent at $154.94 in pre-market trading on Tuesday. The shares closed at $153.70 on Monday
