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| Version 0 | Version 1 |
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| US banking giants see mixed results | US banking giants see mixed results |
| (35 minutes later) | |
| US banking giants Goldman Sachs and Morgan Stanley have reported contrasting results for the first quarter of the year. | US banking giants Goldman Sachs and Morgan Stanley have reported contrasting results for the first quarter of the year. |
| Goldman Sachs' net earnings fell to $2.03bn from $2.26bn after a drop in revenues from its bonds, currency and trading business. | Goldman Sachs' net earnings fell to $2.03bn from $2.26bn after a drop in revenues from its bonds, currency and trading business. |
| However, Morgan Stanley's profit rose to $1.45bn, compared with $981m a year ago. | However, Morgan Stanley's profit rose to $1.45bn, compared with $981m a year ago. |
| Revenues rose in all of its three business segments. | Revenues rose in all of its three business segments. |
| Goldman Sachs makes most of its money from trading and investing in capital markets. | Goldman Sachs makes most of its money from trading and investing in capital markets. |
| In the first quarter, its revenue from fixed income, currency and commodities trading fell 11% to $2.85bn compared with a year earlier. | |
| "We are generally pleased with our performance for the quarter, given the operating environment," said the bank's chief executive, Lloyd Blankfein. | |
| Morgan Stanley's trading, mergers and acquisition advisory and stock sales division grew the most. | |
| The division, called institutional securities, earned $1.2bn, compared with $1.1bn last year. |