Goldman sees its profits fall

first_img KCS-content Goldman sees its profits fall Show Comments ▼ More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com US INVESTMENT bank Goldman Sachs said yesterday that net profit fell during the third quarter of this year after lower than expected trading volumes during the summer dragged on earnings.Goldman reported a net profit of $1.9bn (£1.2bn), or $2.98 per share, for the three months to 30 September, down more than 40 per cent on the previous year’s $3.19bn profit haul, or $5.25 per share. Net revenues were also down 28 per cent on the previous quarter to $8.9bn, the bank said.Revenues from the bank’s trading desks were $6.38bn, 36 per cent lower than a year earlier and three per cent lower than the previous quarter. But the fall in trading volume was offset by growth in the bank’s investment banking division, which saw revenues increase to $1.12bn, 24 per cent higher than a year earlier, on the back of a 40 per cent increase in revenues from equity and bond underwriting.Goldman also revealed it had put $3.8bn (£2.4bn) aside in the third quarter to cover employee pay and bonuses. For the year to date it has set aside $13.1bn to cover staff pay and bonuses, or £268,000 per employee. Overall, the staff pay and bonus pool is down 21 per cent from the $16.7bn set aside at this time last year.Chairman and chief executive Lloyd Blankfein said the bank’s results reflect solid performance.“While economic conditions continue to be challenging in a number of important markets, our focus is on helping our clients achieve their goals,” he said. Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoNoteabley25 Funny Notes Written By StrangersNoteableyUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoBetterBe20 Stunning Female AthletesBetterBeUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesUndo Tags: NULLcenter_img Tuesday 19 October 2010 8:03 pm whatsapp whatsapp Sharelast_img

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