Goldman loses $428 million in third quarter

Reuters News
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Posted: Oct 18, 2011 7:54 AM

(Reuters) - Goldman Sachs Group Inc lost $428 million during the third quarter, only its second quarterly loss as a public company, hurt by sharp declines in the value of investment securities and customer trading assets.

The largest U.S. investment bank lost 84 cents per share, compared with earnings of $2.98 per share a year earlier.

Analysts had been expecting, on average, a loss of 16 cents per share, according to Thomson Reuters I/B/E/S.

(Reporting by Lauren Tara LaCapra in New York; editing by John Wallace)