Goldman posts $428 m loss in Q3

Goldman posts $428 m loss in Q3

The results underscore how investment banks can face headaches from their assets even as regulators clamp down on risk-taking.

Goldman, the largest US investment bank by assets, signaled that it is taking steps to cut costs, including employee pay, for the benefit of shareholders. The bank's third-quarter net revenue totaled $3.6 billion, down 60 percent from a year earlier -- its sixth consecutive year-over-year revenue decline. Wall Street has struggled with new regulations and choppy markets.

Big declines in Goldman's bond-trading and underwriting revenue also weighed on results, more than offsetting gains from equity sales and trading and its advisory business.

DH Newsletter Privacy Policy Get top news in your inbox daily
GET IT
Comments (+)