Goldman Sachs profit falls on investment banking weakness, higher costs

Goldman Sachs Group Inc. on Wednesday reported quarterly profit that missed analysts’ estimates by a wide margin, hurt by weakness in its investment banking business and higher operating costs.

Analysts on average had expected earnings of $5.47 per share, according to the IBES estimate from Refinitiv.Revenue from investment banking fell 6 per cent to $2.06 billion, hurt by lower M&A advisory fees, as well as a slowdown in corporate lending. Earlier in January, Goldman reshuffled most of its major reporting lines and, for the first time, unveiled the size of its consumer business, responding to long-standing requests for more transparency from analysts and investors.Provision for credit losses rose 51 per cent to $336 million in the fourth quarter, while the bank recorded net provisions of $1.24 billion for 2019, mainly due to legal costs related to the 1MDB litigation.

ประเทศไทย ข่าวล่าสุด, ประเทศไทย หัวข้อข่าว

Similar News:คุณยังสามารถอ่านข่าวที่คล้ายกันนี้ซึ่งเรารวบรวมจากแหล่งข่าวอื่น ๆ ได้

Business outlook survey suggests business confidence up, Prairies still weakThe Bank of Canada's latest business outlook survey suggests business confidence has edged higher as global trade tensions have eased, but the Prairies continue to remain a weak spot.
แหล่ง: CTVNews - 🏆 1. / 99 อ่านเพิ่มเติม »

How investment dealers can get advisors to play a role in cybersecurity readinessNow that IIROC has made it mandatory for dealers to report cybersecurity incidents, they need to step up awareness among their advisors
แหล่ง: globeandmail - 🏆 5. / 92 อ่านเพิ่มเติม »