Wall Street investment bank Goldman Sachs reported a 10 percent drop in fourth-quarter earnings Friday, hurt by a fall in trading activity.
The bank earned $2.03 billion, or $4.38 a share, for the three-month period ending in December. That compares with a profit of $2.25 billion, or $4.60 a share, in the same period a year earlier.
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The bank cited a slowdown in trading activity in its fixed income, currency and commodities division for the profit decline. It also blamed a slowdown in investment bank underwriting.
Total revenues reached $7.69 billion, down from $8.78 billion a year ago.
Analysts surveyed by FactSet expected Goldman to earn $4.32 a share on $7.66 billion in sales and revenue.
Shares of Goldman were marginally lower in pre-market trading to $178.49.