Goldman Sachs quarterly profit falls 20 percent
- Goldman Sachs Group Inc beat quarterly profit estimates on Monday as the bank earned more from advising on M&A deals and expenses fell due to lower compensation costs.
The bank’s total revenue, however, fell 13 percent in the first quarter and missed analysts’ estimates, with three of its four main businesses recording a drop in revenue. Trading slowed considerably in the quarter as concerns over the U.S.-China trade war eased, and markets rebounded from steep losses in December 2018.
JPMorgan Chase & Co on Friday reported a 10 percent decline in adjusted markets revenue. Its equities revenue, on an adjusted basis fell 13 percent, while fixed income revenue fell 8 percent.
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