Goldman Sachs revenue dips as trading operations under-performs

Goldman Sachs

Global investment banking giant, Goldman Sachs Group Inc said its second-quarter profit dipped by 6%.

Goldman said the fall was a result of an underperforming fixed income and debt underwriting business.

For the quarter, total revenue profit fell by 2% to $9.46 billion.

Goldman reported that its net earnings applicable to common shareholders fell to $2.20 billion in the quarter ended June 30 from $2.35 billion a year ago. Earnings per share fell to $5.81 from $5.98 a year earlier.

Goldman Sachs is the world’s sixth-largest investment bank with about $933 billion in assets as at 2018.