Goldman Sachs (GS) Posts Q3 adj.-EPS of $2.64
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October 15, 2015 12:39 PM EDT
After opening down 1.5% on a rare quarterly earnings miss, investors are swooping in to buy investment bank Goldman Sachs (NYSE: GS), possibly helped by what is viewed as a un-demanding valuation at around 1.1x tangible book value. The stock last traded up 1.2% to... More
October 15, 2015 7:43 AM EDT
By Richa Naidu and Olivia Oran
(Reuters) - Goldman Sachs Group Inc's (NYSE: GS) profit plunged 38 percent, its second straight quarterly drop, depressed by a steep decline in bond trading revenue triggered by concern about global growth.
With the exception of investment banking, which benefited from a surge in takeovers, revenue fell in all of the bank's major businesses, from investment management to bond, currency and commodities trading.The results are the latest example of how a grim trading environment, exacerbated in the most recent quarter by worries about the global... More
