Goldman Sachs shares declined after posting first-quarter revenue below analysts’ estimates on tougher market conditions for the firm’s trading and investing divisions.
The bank said Monday that revenue dropped 13 percent to $8.81 billion, below analyst’s $8.9 billion estimate. Meanwhile, the firm generated $2.25 billion of profit in the period, or $5.71 a share, exceeding the $4.89 estimate, the New York-based firm said in a release. That was largely from reining in compensation more than analysts had expected, according to a research note from Citigroup.
