Goldman Sachs’ (GS) Profit Slumps For Fourth Straight Quarter As Market Volatility Weighs On Trading, Investment Banking
The Goldman Sachs Group Inc.'s profit slumped for the fourth straight quarter as market volatility hit the investment bank's bond-trading and investment banking businesses.
Goldman, the last of the big U.S. banks to release first-quarter results, reported a 56.3 percent fall in net income applicable to common shareholders to $1.2 billion, or $2.68 per share, for the three-month period ended March 31.
That compared with $2.75 billion, or $5.94 per share, a year earlier, when the Wall Street bank recorded its best quarterly profit in five years.