By Saabira Chaudhuri
Goldman Sachs Group Inc.'s fourth-quarter net income fell while
revenue declined.
The bank reported a profit of $2.17 billion, compared with a
year-earlier profit of $2.33 billion. On a per-share basis,
Goldman's profit was $4.38. Analysts polled by Thomson Reuters had
expected earnings of $4.32 a share.
Revenue fell to $7.69 billion. Analysts had expected $7.64
billion.
Investors will be closely watching results from Goldman's fixed
income, currencies and commodities trading business. Through much
of 2014, FICC trading revenue at the nation's biggest banks was
dampened by quiet markets, but in the last few months of the year,
banks say they have been grappling with unexpected bouts of sudden
volatility, which also can make it hard to turn a profit.
Goldman's compensation ratio, or the proportion of revenue it
pays out to employees, will also be closely watched. Compensation
costs are usually Goldman's biggest operating expense.
Write to Saabira Chaudhuri at saabira.chaudhuri@wsj.com
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