Goldman Sachs' net income falls 11 per cent as deals and trading slow; still beats forecasts | iNFOnews | Thompson-Okanagan's News Source

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Goldman Sachs' net income falls 11 per cent as deals and trading slow; still beats forecasts

FILE - In this Thursday, March 15, 2012, file photo, traders work at the Goldman Sachs posts on the floor of the New York Stock Exchange. Goldman Sachs says its net income fell 11 percent in the April-to-June period after the investment bank's clients traded less and made fewer deals as global financial markets turned volatile. (AP Photo/Richard Drew, File)
July 17, 2012 - 8:32 AM

NEW YORK, N.Y. - Goldman Sachs says its net income fell 11 per cent in the April-to-June period after the investment bank's clients traded less and made fewer deals as global financial markets turned volatile.

The New York bank said its net income available to common shareholders fell to $962 million, or $1.78 per share, for the quarter. That compares with $1.09 billion, or $1.85 per share, a year ago.

That's far more than the $1.17 per share that analysts were expecting.

Revenue for the three months ended June 30 declined 9 per cent to $6.63 billion. That's more than Wall Street's expectations of $6.2 billion.

Goldman Sachs' stock rose $1.82 to $99.50 in premarket trading.

News from © The Associated Press, 2012
The Associated Press

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