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Goldman Sachs’ earnings have been lost by Reuters in its estimates of weak value businesses

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© Reuters. FILE PHOTO: The Goldman Sachs logo is listed on the New York Stock Exchange (NYSE) in New York City, New York, USA on November 17, 2021. REUTERS / Andrew Kelly

(Reuters) – Goldman Sachs Group Inc.’s fourth-quarter earnings fell nearly 13% and market expectations fell on Tuesday as weak trading activity dampened a one-year deal, as Wall Street’s major investment bank shares fell 3%.

Goldman’s trading unit had lower earnings in the quarter ended Dec. 31 compared to last year because the more stable economy had lower volatility and fewer changes in financial markets.

The global marketplace, which now accounts for about one-third of the business that now trades in commerce, had revenues of nearly $ 4 billion, down 7%.

Compared to the strong quarter of last year, when trading volume rose, the bank said its share promotion revenue fell 8% in the quarter due to lower second-tier offer earnings.

Goldman, on the other hand, reported a 45% jump in investment bank revenue to $ 3.8 trillion, as its major rainfall earners set a record share of consultancy on some of the biggest deals on mergers, initial public offerings and special purpose buying companies. .

Net income applicable to ordinary shareholders fell to $ 3.88 billion in the quarter ended December 31, up from $ 4.36 billion in the same period a year earlier. Earnings per share fell to $ 10.81 from $ 12.08 a year earlier.

Analysts had expected an average earnings of $ 11.76 per share, according to Refinitiv data.

Meanwhile, on Friday, JPMorgan Chase & Co (NYSE 🙂 and Citigroup Inc (NYSE 🙂 both exceeded analyst earnings estimates. While JPMorgan’s profits, the country’s largest lenders, were hurt by a slowdown in its trading arm, the excellent performance of the investment bank softened the impact.

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