Goldman Sachs Revenue Dims Due to Client Uncertainty
April 20, 2016 5:34 am
Goldman Sachs Group’s revenue on all fronts registered a steep decline during the first quarter, the company announced on Tuesday.
Its net income plunged by 60 percent to $1.14 billion or $2.68 per share, a very slim figure compared to last year’s $2.84 billion income ($5.94 per share). Revenues also ebbed by 40 percent to $6.34 billion, pushed down by the slowing Chinese economy, falling commodity prices, and investors trading less due to vague Fed interest rates.
Goldman’s investment banking unit only brought in $1.46 billion, a 23 percent drop year-on-year. Its institutional client services, the company’s largest trading division, contracted the most by 37 percent.
The material has been provided by InstaForex Company – www.instaforex.com
Goldman Sachs Group’s revenue on all fronts registered a steep decline during the first quarter, the company announced on Tuesday.
Its net income plunged by 60 percent to $1.14 billion or $2.68 per share, a very slim figure compared to last year’s $2.84 billion income ($5.94 per share). Revenues also ebbed by 40 percent to $6.34 billion, pushed down by the slowing Chinese economy, falling commodity prices, and investors trading less due to vague Fed interest rates.
Goldman’s investment banking unit only brought in $1.46 billion, a 23 percent drop year-on-year. Its institutional client services, the company’s largest trading division, contracted the most by 37 percent.
The material has been provided by InstaForex Company – www.instaforex.com
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