Goldman Sachs Profit Falls as Deal Boom Sputters

Goldman Sachs Group Inc. said Monday that profit fell 47% in the second quarter, signaling the end of a pandemic-era boom in Wall Street deal activity.

The bank said it earned $2.93 billion, down from $5.49 billion a year ago. Still, per-share earnings of $7.73 exceeded the $6.56 a share expected by analysts polled by FactSet.

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