Goldman Sachs has disappointing quarter
Another tough quarter, another reminder for Goldman Sachs that it’s not just its reputation that’s under attack.
The investment bank’s revenue and earnings continue to decline even as it has resorted to massive job cuts to reduce costs in the past year. On Tuesday, the New York bank said its net income in the April-through-June period fell 11 percent to $962 million. That compares with $1.09 billion a year ago. Revenue fell 9 percent to $6.63 billion compared with the same period a year ago.
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