Goldman Sachs quarterly bond trading revenue drops 26 percent

REUTERS - Goldman Sachs Group Inc reported a decline in quarterly profit, as gains in investment banking were offset by a 26 percent drop in fixed-income trading revenue.

Revenue from trading bonds, currencies and commodities (FICC) fell to $1.45 billion. http://bit.ly/2gfWdgC

Net income applicable to common shareholders was $2.04 billion, or $5.02 per share, for the third quarter ended Sept. 30, compared with $2.10 billion, or $4.88 per share a year ago.

Analysts on average had expected earnings of $4.17 per share, according to Thomson Reuters I/B/E/S. It was not immediately clear if the reported numbers were comparable.

Total revenue, including net interest income, rose 2 percent to $8.33 billion.

 

Goldman's arch rival Morgan Stanley reported a higher profit, driven by its investment banking and wealth management businesses. However, fixed-income trading fell 20 percent to $1.2 billion.

(Reporting By Aparajita Saxena in Bengaluru and Olivia Oran in New York; Editing by Bernard Orr)