Goldman drops 3% on poor results

Goldman Sachs declined as much as 3% in New York trading after revenue dropped the most among the biggest Wall St banks and fixed-income results were the worst since the financial crisis.

Third-quarter revenue of $6.72bn (€4.9bn) was 20% lower than a year earlier and fell short of the $7.35bn average estimate of 17 analysts surveyed by Bloomberg.

Bond trading plunged 47% to $1.29bn, the New York-based company said in a statement yesterday.