Goldman Sachs Group Inc. (NYSE:GS) on Thursday reported a 2 percent profit decline for the third quarter as its bond-trading volume fell, but the nation's fifth-largest bank by assets still beat Wall Street expectations as expenses declined.
The New York investment bank reported net income of $1.43 billion, or $2.88 per share, compared with $1.46 billion, or $2.85 per share, a year earlier. Revenue plunged 20 percent to $6.72 billion.
Analysts polled by Thomson Reuters expected, on average, earnings per share of $2.43 on revenue of $7.35 billion.
Expenses declined 25 percent, primarily on reduced compensation.
Fixed-income-trading revenue plunged 47 percent from the year-ago quarter.
Goldman Sachs (GS) Q3 Profit Falls 2% As Its Bond Trading Volume Drops
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