Goldman Sachs' revenue slumps 20 percent

Goldman Sachs says its third-quarter profit was flat while revenue fell sharply as trading in bonds and other securities slowed.
Goldman Sachs earned USD 1.43 billion after paying dividends on preferred shares, down slightly from USD 1.46 billion in the same period a year earlier.
That worked out to USD 2.88 per share, up from USD 2.85 per share last year and beating the USD 2.44 per share expected by financial analysts.
Revenue dropped 20 percent to USD 6.72 billion from USD 8.35 billion, coming in below analysts' forecast of USD 7.41 billion, as trading in bonds, mortgage securities and currencies fell.

Goldman's stock, which was recently added to the Dow Jones industrial average, fell USD 4.2 or 2.6 percent, to USD 158 in pre-market trading.
The bank increased its dividend to 55 cents per share from 50 cents.