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Goldman Sachs profit misses estimates on trading weakness


REUTERS - Goldman Sachs Group Inc reported a lower-than-expected quarterly profit as gains in investment banking were offset by weak trading revenue.Total revenue from trading fell 2.4 percent to $3.36 billion, the lowest in five quarters. Revenue from fixed-income securities, currencies and commodities trading rose just 1.3 percent to $1.69 billion."The operating environment was mixed, with client activity challenged in certain market-making businesses...," Chief Executive Lloyd Blankfein said in a statement.Goldman's trading results were in sharp contrast to those from JPMorgan Chase & Co ...

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First Published: Tue, April 18 2017. 17:41 IST