Goldman missed earnings estimates as deal-making declined and the consumer business took a hit

Goldman missed earnings estimates as deal-making declined and the consumer business took a hit

(Reuters) – Goldman Sachs Group (GS.N.) on Tuesday reported a larger-than-expected 69 percent drop in fourth-quarter profit as it struggled with stagnant deal-making and slumping asset and wealth management revenues booked into its consumer business. Wall Street banks are making deep workforce cuts and streamlining their operations as deal-making activity, their main source of revenue, …

Goldman missed earnings estimates as deal-making declined and the consumer business took a hit Read More »