Gold­man Sachs prof­its flat amid weak trad­ing re­sults

Kuwait Times - - BUSINESS -

Global fi­nan­cial ser­vices gi­ant Gold­man Sachs re­ported flat sec­ond-quar­ter earn­ings yes­ter­day as gains in in­vest­ment man­age­ment off­set a steep drop in trad­ing rev­enues due to weak volatil­ity. Net in­come was es­sen­tially un­changed from the com­pa­ra­ble quar­ter last year at $1.6 bil­lion, while rev­enues dipped 0.6 per­cent to $7.9 bil­lion. “A mixed op­er­at­ing en­vi­ron­ment per­sisted into the sec­ond quar­ter as con­di­tions con­tin­ued to sup­port un­der­writ­ing and merg­ers and ac­qui­si­tions, while con­strain­ing cer­tain mar­ket-mak­ing ac­tiv­ity,” Gold­man chief ex­ec­u­tive Lloyd Blank­fein said.

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