Goldman Revenue Tops Estimates, Profit Falls on Legal Costs

January 20, 2016 2:27 PM

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Goldman Sachs Group Inc.’s fourth-quarter revenue beat analysts’ estimates as fees from advising on mergers jumped 27 percent. Net income dropped 65 percent on costs to settle a mortgage probe.

Revenue fell 5 percent to $7.27 billion, better than the $7.17 billion estimate of 16 analysts surveyed by Bloomberg. Net income declined to $765 million, or $1.27 a share, from $2.17 billion, or $4.38, after an agreement to settle a U.S. probe into the bank’s handling of mortgage-backed securities ...

Also read: Goldman Sachs Profit Rises 47% as Bond-Trading Outperforms

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