General Discussion

xchrom

(108,903 posts) Tue Jul 17, 2012, 08:48 AM Jul 2012

Goldman Sachs' profits halve in second quarter

http://www.bbc.co.uk/news/business-18868408

US bank Goldman Sachs has said its net profits more than halved in the second quarter, blaming deteriorating market conditions and a drop in its investment banking activities.

Net income fell to $962m (£615m) in the three months to 30 June, down from $2.1bn in the first quarter.

The firm said that staff compensation - salaries and bonuses -was $2.92bn, down 9% from last year.

Revenue from investment banking, its core business, fell 4% in the quarter.

2 replies

= new reply since forum marked as read

Highlight:

Goldman Sachs' profits halve in second quarter (Original Post) xchrom Jul 2012 OP

The Guardian: Goldman Sachs profits fall 11% alp227 Jul 2012 #1

Losses from JP Morgan's debacle perhaps? BumRushDaShow Jul 2012 #2

alp227

(32,065 posts)

1. The Guardian: Goldman Sachs profits fall 11%

Reply to xchrom (Original post)

Tue Jul 17, 2012, 12:29 PM

Jul 2012

Goldman Sachs' profits slumped 11% in the second quarter as the global economy slowed demand for investment banking services.

The bank's net profit for the three months to June was $962m (£612m) and net revenues were $6.63bn, compared with profits of $1.08bn on revenues of $7.28bn in the same period the year before.

full: http://www.guardian.co.uk/business/2012/jul/17/goldman-sachs-profits-fall-11-percent

BumRushDaShow

(129,687 posts)

2. Losses from JP Morgan's debacle perhaps?

Reply to xchrom (Original post)

Tue Jul 17, 2012, 12:35 PM

Jul 2012

Reply to this discussion