Goldman Sachs EPS Estimate Slashed 40% by Atlantic Equities

Goldman Sachs Group Inc.’s second-quarter profit estimate was reduced 40 percent by an analyst at Atlantic Equities LLP, who said the firm’s trading and investing revenue is declining, making job cuts more likely.

Goldman Sachs will likely earn $2.17 per share, down from a previous estimate of $3.49, Richard Staite wrote today in a note to investors. Staite expects trading revenue to tumble to $4.9 billion, a 27 percent decrease from the first quarter, and investing and lending gains to narrow to $200 million from $2.7 billion, he wrote.