Goldman Sachs Profit Nearly Halves on Slowdown in Dealmaking

Goldman Sachs Profit Nearly Halves on Slowdown in Dealmaking
The Goldman Sachs company logo on the floor of the New York Stock Exchange on July 13, 2021. Brendan McDermid/Reuters
Reuters
Updated:

Goldman Sachs Group Inc. reported first-quarter profit that nearly halved on Thursday, as capital markets activity normalized from bumper levels a year ago, weighing on the bank’s investment banking business.

With the U.S. Federal Reserve beginning to wean the economy off pandemic-era support, dealmaking slowed in the quarter and cast a pall over some of Goldman’s most lucrative businesses.