Analysts had expected a profit of $7.69 per share., according to Refinitiv data. It was not clear whether the reported figures were comparable to the estimates.
It’s about the Biggest investment bank shakeup in just over two years and it outlines plans for four units main: Investment Banking, Global Markets, Consumer & Wealth Management, and Asset Management.
The restructuring is known when the bank tries to increase its income from businesses that depend on commissionsat a time when rising interest rates have dented valuations and corporate deal closings.
The review follows a round of job cuts in September that could have affected hundreds of bankers.
The bank is closing a mixed quarter for the big US banksin which choppy capital markets and slowing economic growth weakened investment banking, but in which a rising borrowing costs boosted net interest income.
The operations slowed in the quarterwhich made some of Goldman’s most lucrative businesses would be affected.
Total revenue fell 12% to $11.98 billion in the quarter. However, in the face of aggressive rate hikes by the Federal Reserve and the war in Ukraine, investors boosted transactions in the marketshelping the bank’s fixed income, foreign exchange and commodities division.
Source: Ambito
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