NEW YORK -- Goldman Sachs Group Inc.'s fourth-quarter profit fell 19% as the Wall Street powerhouse endured a slowdown in bond, commodities and currency trading.
Goldman reported earnings of $2.3 billion, or $4.60 a share, down from $2.9 billion, or $5.60, the same period in the prior year.
The investment bank's results nevertheless beat Wall Street expectations: Analysts polled by Thomson Reuters had predicted $4.21 in per-share earnings last quarter.
Lloyd Blankfein, Goldman's chairman and chief executive, said the bank performed well despite a "somewhat challenging environment."
“We believe that we are well positioned to generate solid returns as the economy continues to heal and provide considerable upside for our shareholders as conditions materially improve," Blankfein said in a statement.