Goldman Shares Drop
Biggest drop among large Wall Street banks
Goldman Sachs Group Inc. (GS) declined as much as 3 percent in New York trading after revenue dropped the most among the biggest Wall Street banks and fixed-income results were the worst since the financial crisis.
Third-quarter revenue of $6.72 billion was 20 percent lower than a year earlier and fell short of the $7.35 billion average estimate of 17 analysts surveyed by Bloomberg. Bond trading plunged 47 percent to $1.29 billion, the New York-based company said today in a statement.