FILE - In this March 15, 2012 file photo, a trader works in the Goldman Sachs booth on the floor of the New York Stock Exchange. Goldman Sachs will report first quarter earnings later Thursday April 17, 2014 (AP Photo/Richard Drew, File)
April 17, 2014 - 5:05 AM
NEW YORK, N.Y. - Investment bank Goldman Sachs says its first-quarter earnings fell as fixed income trading slumped.
The bank earned $1.9 billion in the quarter, down 11 per cent from the same period a year earlier when it made $2.2 billion.
The earnings were equivalent to $4.02 a share. Analysts polled by FactSet had predicted earnings of $3.49 a share.
Revenue totalled $9.3 billion, down 8 per cent from a year earlier, when the bank generated revenue of $10.1 billion. The latest quarterly revenue beat analysts' expectations of $8.7 billion.
Goldman's stock rose $2.78, or 1.8 per cent, to $160 in pre-market trading.
News from © The Associated Press, 2014