The Traderszone Network

Published in TZ Latest News 16 July, 2015 by The TZ Newswire Staff

Goldman profit halves on weak bond trading, legal provisions

Goldman recorded $1.45 billion in net provisions for mortgage-related litigation and regulatory matters, up from $284 million a year earlier, reducing earnings by $2.77 per share. Analysts on average had expected earnings of $3.89 per share, according to Thomson Reuters I/B/E/S. It was not immediately clear if the reported figures were comparable. Goldman, whose shares were down 1 percent in premarket trading, said its net revenue from fixed-income, currency and commodity trading fell 28 percent to $1.60 billion.