Goldman Sachs Group Inc. has sustained the largest bruise on weak earnings report, reminding investors of their dependence on its purchasing and selling stocks, bonds, and commodities similar to oil, as well as trading businesses on hedge funds and money managers.
The investment banking company posted a 36% decline in its third quarter profit, while its revenue in fixed-income, currencies and commodities plunged 33%. Net income dropped to $1.43 billion from $2.24 billion a year ago. Revenue fell 18% to $6.86 billion.
Figures indicated the downside of Goldman Sachs’ strategy of sticking to its plans on trading despite a wider bank retrenchment from the entities. Since the financial crisis, regulators have suppressed trading with tighter capital rules and reductions on risk taking.
The material has been provided by InstaForex Company – www.instaforex.com
Goldman Sachs Group Inc. has sustained the largest bruise on weak earnings report, reminding investors of their dependence on its purchasing and selling stocks, bonds, and commodities similar to oil, as well as trading businesses on hedge funds and money managers.
The investment banking company posted a 36% decline in its third quarter profit, while its revenue in fixed-income, currencies and commodities plunged 33%. Net income dropped to $1.43 billion from $2.24 billion a year ago. Revenue fell 18% to $6.86 billion.
Figures indicated the downside of Goldman Sachs’ strategy of sticking to its plans on trading despite a wider bank retrenchment from the entities. Since the financial crisis, regulators have suppressed trading with tighter capital rules and reductions on risk taking.
The material has been provided by InstaForex Company – www.instaforex.com
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