NEW YORK (AP) — Another tough quarter, another reminder for Goldman Sachs that it's not just its reputation that's under attack.
The once-mighty investment bank's revenue and earnings continue to decline even as it has resorted to massive job cuts and other steps to reduce costs in the past year.
On Tuesday, the New York bank said its net income in the April-through-June period fell 11 percent to $962 million, or $1.78 per share. That compares with $1.09 billion, or $1.85 per share, a year ago. The earnings were higher than the $1.17 per share that analysts were expecting, and Goldman's stock edged up 30 cents to close at $97.98 Tuesday.
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