Goldman Sachs quarterly profit falls 20pc

Low market volatility is blamed for Goldman Sachs falling profits. — Reuters pic
Low market volatility is blamed for Goldman Sachs falling profits. — Reuters pic

NEW YORK, April 15 — Goldman Sachs Group Inc reported a 20 per cent drop in quarterly profit today as equities and bond trading fell due to low market volatility.

The bank's net earnings attributable to common shareholders fell to US$2.18 billion (RM8.98 billion), or US$5.71 per share, in the first quarter ended March 31, from US$2.74 billion, or US$6.95 per share, a year ago.

Analysts were looking for a profit of US$4.89 per share, according to IBES data from Refinitiv, although it was not clear if that number was comparable with reported numbers. — Reuters

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