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http://www.businessweek.com/news/2012-11-08/goldman-sachs-traders-lost-money-on-2-days-during-third-quarter

Bloomberg News

Goldman Sachs Traders Lost Money on 2 Days During Third Quarter

November 08, 2012

Goldman Sachs Traders Lost Money on 2 Days During Third Quarter

Traders work at the Goldman Sachs Group Inc. booth on the floor of the New York Stock Exchange in New York. Photographer: Peter Foley/Bloomberg

Goldman Sachs Group Inc. (GS:US), which made 55 percent of its revenue this year from sales and trading, recorded losses from that business on 2 days in the third quarter, down from 21 days in the same period last year.

The firm’s traders made more than $100 million on seven days in the quarter ended Sept. 30, compared with nine days in the year-earlier period, the New York-based company said in a regulatory filing today.

Goldman Sachs, the fifth-biggest bank by assets, posted a third-quarter profit (GS:US) of $1.51 billion compared with a loss the prior year that was helped by gains on the firm’s own investments. Revenue from sales and trading rose 3 percent from a year earlier to $4.18 billion, the firm reported last month.

To contact the reporter on this story: Christine Harper in New York at charper@bloomberg.net

To contact the editor responsible for this story: David Scheer at dscheer@bloomberg.net.


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