Goldman Sachs has reported a 72% drop in first-quarter profits as it made less money from trading bonds for clients.
The largest US investment bank recorded a profit to ordinary shareholders of $908m, or $1.56 a share, compared with $3.3 billion, or $5.59 a share, in the same quarter a year ago.
Results in the latest quarter were also hit by the bank's buying back $5 billion of preferred shares from Warren Buffett's Berkshire Hathaway.
