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Goldman Sachs says first-quarter earnings fall 11 percent as fixed income trading slumps
Reported by: Associated Press
Reported: Thursday, April 17, 2014 8:03 AM EDT
Investment bank Goldman Sachs says its first-quarter earnings fell as fixed income trading slumped.
The earnings were equivalent to $4.02 a share. Analysts polled by FactSet had predicted earnings of $3.49 a share.
Revenue totaled $9.3 billion, down 8 percent from a year earlier, when the bank generated revenue of $10.1 billion. The latest quarterly revenue beat analysts' expectations of $8.7 billion.
Goldman's stock rose $2.78, or 1.8 percent, to $160 in pre-market trading.