Goldman Sachs Group’s (GS) quarterly profit almost halved as the U.S. investment banks set aside almost a $1 billion to cover potential loan losses tied to the coronavirus pandemic.Net earnings in the first quarter ended March 21, slumped 49% from the year-ago period to $1.21 billion. Diluted earnings per common share (EPS) fell to $3.11 in the first three months of the year from $5.71 in the same period last year 2019. Goldman missed analysts’ estimates expecting a profit of $3.35 per share on average. The investment bank’s stock rose a mere 0.2% to $178.52.Provision for credit losses increased …read more
Source:: Yahoo Finance
