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Actionable news in GS: GOLDMAN SACHS GROUP Inc,

Goldman Earnings Miss as Bond Traders Suffer

Results missed Wall Street estimates, sending shares down 1.2% to $177.37 premarket.

Goldman said its third-quarter net income fell to $1.43 billion, or $2.90 a share, from $2.24 billion, or $4.57 a share, a year earlier.

Revenue dropped 18% to $6.86 billion.

The Wall Street firm was expected to earn $2.91 a share on revenue of $7.13 billion, the average estimates of analysts polled by Thomson Reuters.

The bank said its fixed-income, currencies and commodities trading revenue fell 33% to $1.46 billion from the third quarter of 2014 due to weakness in trading mortgages, currencies and interest-rate products. Equities trading revenue rose 9% to $1.75 billion.

Excluding a gain the company booked on retiring some debt, so-called FICC trading revenue fell 27% and equities trading revenue rose 18%.

“We experienced lower levels of activity and declining asset prices during the quarter, reflecting renewed concerns about global economic...


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