[vc_row][vc_column][vc_column_text]This story was first published in Financial News.
Goldman Sachs posted a small increase in revenues during the third quarter, as strong investment banking results were weighed down by weaker performance in its fixed income trading division.
The US banking giant posted revenues of $8.65bn for the third quarter, up 4% on the same period last year and $300m ahead of analyst consensus. Profits were up by over 18% compared to the prior year at $2.52bn. Like its US investment banking peers, Goldman’s profits have been bolstered by lower taxes in its home market.
Goldman’s fixed income currencies and commodities trading revenues, traditionally a powerhouse for the US investment bank, failed to maintain momentum during the third quarter.
The division had bounced back in the first half of this year after an uncharacteristically weak 2017, but revenues were down 10% in the third quarter to $1.31bn. The bank said that was due to low levels of volatility and weak revenues from its interest rates trading business.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_btn title=”Read More” link=”url:%09https%3A%2F%2Fwww.fnlondon.com%2Farticles%2Fgoldman-sachss-investment-bankers-shine-but-fixed-income-woes-return-20181016|||”][/vc_column][/vc_row]
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