Goldman Sachs Stock Slips As Fixed Income Trading Slides 40% In Q2

By Andrea RiquierMarketsMarketWatch Pulse

Goldman Sachs Group Inc. on Tuesday reported net income of $7.89 billion in the second quarter, down 0.6% compared to a year ago, or $3.95 a share. That easily beat the Factset consensus of $3.38 per share. Net revenues in fixed income, currencies and commodities were 40% lower compared to a year ago, in a quarter marked by low volatility and sluggish activity, the firm said. Investment banking was 3% lower than in the year-ago period. But investing and lending activity surged 42% for the year. Shares fell in pre-market trading. The stock has lost about 4% in the year to date, even as the S&P 500 and the Dow Jones Industrial Average have gained nearly 10%.

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