Goldman Sachs posts its worst earnings miss in a decade as revenue falls while expenses rise

– Earnings of $3.32 per share vs. $5.48 estimate of analysts surveyed by Refinitiv

– Revenue of $10.59 billion vs. $10.83 billion estimate

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– Shares of the New York-based bank dipped 2.4% in premarket trading.

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– Goldman Sachs on Tuesday posted its largest earnings miss in a decade amid steep declines in investment banking

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And asset management revenue.

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· The bank said quarterly profit plunged 66% from a year earlier to $1.33 billion, or $3.32 per share, about 39% below the consensus estimate.

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That made for the largest EPS miss since Oct. 2011, according to Refinitiv data.

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· Revenue held up better at $10.59 billion, down 16% from a year earlier and edging out the estimate.

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· Shares of the New York-based bank dipped 2.4% in premarket trading.

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· “Widely expected to be awful, Goldman Sachs’ Q4 results were even more miserable than anticipated,”

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· Octavio Marenzi, CEO of Wall Street consultancy Opimas, said in an email.

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