Goldman Sachs posted a drop in first-quarter earnings and said it sold part of its Marcus loans portfolio
Goldman Sachs Group Inc. is next out of the gate with first-quarter earnings.That amounted to $8.79 per share, beating the $8.14 per share that analysts polled by FactSet had expected.
Investment banking revenue fell 26%.The big news: Goldman sold part of its Marcus loans portfolio, booking a loss of about $470 million. It transferred the rest of the portfolio to “held for sale.” The bank has been paring back its Main Street ambitions.
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