Arab Today, arab today goldman sachs earnings hit by hefty legal charge
Last Updated : GMT 12:51:41
Arab Today, arab today
Arab Today, arab today

Goldman Sachs earnings hit by hefty legal charge

Arab Today, arab today

Arab Today, arab today Goldman Sachs earnings hit by hefty legal charge

Goldman Sachs led CEO Lloyd Blankfein
New York - AFP

Goldman Sachs reported a big drop in earnings Wednesday as hefty legal expenses and lower trading revenues more than offset the gains from strong merger advising activity.

Earnings for the fourth quarter dropped about 71.8 percent to $574 million.

Revenues fell 5.4 percent to $7.3 billion.

Profits were hit by a $1.8 billion charge to settle US litigation on allegations the investment bank fraudulently marketed mortgage bonds to investors before the financial crisis. 

Goldman announced last week it had reached a tentative $5.1 billion deal with regulators to settle the litigation.

Goldman said revenues from trading in its fixed income, currency and commodities investments fell eight percent to $1.1 billion compared with the year-ago period. The results were marred by a "challenging environment generally characterized by difficult market-making conditions," it said.

Revenues from equities trading fell nine percent to $1.8 billion, reflecting low trading volumes.

On the positive side, Goldman notched a 27 percent gain in financial advisory revenues behind brisk merger and acquisition activity.

"We are pleased that our diversified business mix allowed us to deliver solid results in a year characterized by uneven global economic activity," said Goldman chief executive Lloyd Blankfein.

For all of 2015, Goldman reported earnings of $5.6 billion, down 31 percent from 2014.

Goldman shares fell 2.4 percent in pre-market trade to $153.00.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today goldman sachs earnings hit by hefty legal charge Arab Today, arab today goldman sachs earnings hit by hefty legal charge

 



Arab Today, arab today
Arab Today, arab today Fadi Kataya explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Messi visit will contribute in tourism

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Zainab al-Maliki reveals herTV presenter models

GMT 18:12 2017 Friday ,24 February

Zainab al-Maliki reveals herTV presenter models
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Actress Lobna Abdel Aziz proud of her career

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday