Goldman Sachs earnings fall 4 per cent

Reuters, Tuesday 17 Jul 2012

A sharp decline in the investment bank's investments caused earnings to fall to $927 million in 2011, compared to $1.1 billion last year

Goldman Sachs Group Inc earnings fell 4 per cent in the second quarter compared with a year ago due to a sharp decline in the value of its investments and a slowdown in dealmaking activity.

The biggest U.S. investment bank said on Tuesday it earned $927 million, or $1.78 per share, compared with $1.1 billion, or $1.85 per share, a year earlier.

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