Investing.com - Goldman Sachs (N:GS) shares declined in pre-market trade on Thursday, following the release of disappointing quarterly earnings results.
The largest U.S. investment bank said earnings per share came in at $2.90 in the three months ended September 30, missing expectations for earnings of $3.00 a share and down sharply from $4.57 a share a year earlier.
The firm’s third quarter revenue totaled $6.86 billion, below estimates for revenue of $7.07 billion.
Net revenues in Investment Banking were $1.56 billion for the third quarter of 2015, 6% higher than the third quarter of 2014 and 23% lower than a strong second quarter of 2015.
Net revenues in Fixed Income, Currency and Commodities Client Execution were $1.46 billion for the third quarter of 2015, 33% lower than the third quarter of 2014.
“We experienced lower levels of activity and declining asset prices during the quarter, reflecting renewed concerns about global economic growth,”said Lloyd C. Blankfein, Chairman and Chief Executive Officer.
Shares of Goldman Sachs were down 2.08%, or $3.73, in pre-market trade at $175.60 from Wednesday's closing price of $179.51.
Meanwhile, U.S. stock futures pointed to a higher open. The Dow futures rose 68 points, or 0.4%, the S&P 500 futures tacked on 13 points, or 0.64%, while the Nasdaq 100 futures advanced 33 points, or 0.77%.