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Litigation costs dent profit for Goldman Sachs

Jan 16, 2020 - City A.M.

GOLDMAN Sachs suffered a fall in profit in the final quarter of the year as high litigation provisions and investment banking weakness dented the Wall Street giant's bottom line, its results revealed yesterday.Net earnings fell 26 per cent year on year to $1.72bn (£1.32bn). The fall in profit took earnings per share to $4.69 in the fourth quarter from $6.04 a year earlier, falling well below analysts' expectations of $5.47.

The lender did not give precise details of the litigation provisi...