Bad News

Goldman Sachs ‘Underperforms’

Goldman Sachs posted a disappointing second-quarter profit of $1.05 billion, or $1.85 per share—another sign of the company’s struggles to regain its footing in the post-financial-crisis world. The performance was below analysts’ expectations of $2.27 per share. Goldman’s chief financial officer, David Viniar, said, “I don’twant to sugarcoat it, we underperformed.” However, the performance was still better than the same period a year ago, when Goldman reported a profit of just $453 million.