Goldman Sachs reported first quarter 2016 net earnings of $1,14 billion or $2,68 a share, down 60% from earnings of $2,84 billion or $5,94 a share a year ago. In the same period, turnover fell to 6,34 billion from 10,62 a year ago: that is, by 40%, to a minimum in over four years. However, profits were better than expected, which were $2,45 a share on a turnover of $6,73 billion.
Like its main rivals, Goldman Sachs was impacted by the sharp contraction in trading activity recorded in the quarter due to market turmoil.
