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Goldman Profit Drops 26% as Market Wobbles

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The swoon in tech stocks hit Goldman’s earnings, with the bank taking paper losses on its stakes in Uber and other companies

Goldman Sachs Group Inc.’s third-quarter profit fell 26% from a year ago, hit by a slowdown in deal-making and losses on the bank’s stakes in companies.

The bank on Tuesday reported $1.88 billion of net earnings, or $4.79 a share, on $8.32 billion of revenue, roughly in line with what analysts had expected. Shares fell 1.1% in premarket trading.

 

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😛

Never mind ! GS will still be on every financial network, doing infomercials as if they are the only ones with the “ facts “.

He looks like Mattis but bald.

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