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 <JPM.N> and Bank of America <BAC.N>, which
reported a rise in trading revenue.
Shares of Goldman were down 3 percent in premarket trading.
Goldman has historically relied more on trading than other big
banks, but has been trying to shift to stable businesses such as
Earnings per share rose to $5.15 from $2.68. (http://bit.ly/2nYyF63)
Analysts on average had expected earnings of $5.31 per share,
according to Thomson Reuters I/B/E/S.
Investment banking revenue, which includes M&A, debt
underwriting and stock underwriting, rose 16.4 percent to $1.7
Total operating expenses rose 15.2 percent to $5.49 billion.
Morgan Stanley <MS.N>, Goldman's traditional rival, reports
earnings on Wednesday.
(Reporting by Sruthi Shankar in Bengaluru and Olivia Oran in New
York; Editing by Sriraj Kalluvila)
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