Goldman Sachs Currency, Fixed Income & Commodities Trading Earnings Sink Further

Goldman Sachs America’s largest investment bank reported better than expected fourth quarter earnings before the bell  Wednesday. $GS saw a 50% jump in investment income but trading revenue conttinues to sink.

Goldman Sachs America’s largest investment bank reported better than expected fourth quarter earnings before the bell  Wednesday. $GS saw a 50% jump in investment income but trading revenue conttinues to sink.

Goldman Traders

 Goldman Traders Revenues Continue To Slide

 Reaction: Goldman Sachs Group NYSE

$GS PreMarket $257.20  -1.26  (-.49%) 

Earnings: EPS of $5.68, excluding tax cut effect beat expected $4,90, Revenue of $7.83 billion beat expected revenue of $7.63 billion.

Highlights

  • Fixed income, currency and commodities trading revenue crashed 50% to $1 billion,
  • Equities revenue fell 14% to $1.37 billion,
  • Investment banking revenue rose 44% to $2.14 billion,
  • Investing and lending revenue climbed 12% to $1.66 billion,
  • Investment management revenue rose 4% to $1.66 billion. Previous Quarter Earnings

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The bank rally had been fueled by expectations for easier regulations including a possible repeal of DoddFrank and infrastructure spending. The Federal Reserve decision to raise rates has also helped banks.  The new surge in home prices has also buoyed optimism for the mortgage business and banks profits thereto.


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