Goldman Sachs on Thursday delivered quarterly earnings and revenue that fell short of analysts' expectations, as market turmoil stemming from concerns about global growth discouraged bond trading and added to uncertainty about the timing of a U.S. interest rate hike.
Goldman share prices fell more than 1.5 percent in early trading following the report. (Get the latest quote here.)
The Wall Street bank said net income dropped to $1.33 billion, or $2.90 per share, in the third quarter ended Sept. 30, from $2.14 billion, or $4.57 per share, a year earlier.
Revenue fell to $6.86 billion from $8.39 billion a year ago.
Wall Street had expected the company to deliver quarterly earnings per share of $2.91 on $7.13 billion in revenue, according to consensus estimates from Thomson Reuters.
"What you really have to look at here are the variants in revenue and what are the sources for that," Marty Mosby, director of bank and equity strategies at Vining Sparks, said in a CNBC "Squawk Box" interview. "It's really on investing and lending."
Goldman said revenue from fixed-income, currency and commodity trading, fell 33 percent to $1.46 billion. Excluding adjustments, revenue would have fallen 27 percent.
The bank posted second-quarter earnings in July that fell sharply from the previous year, hit by a large litigation charge. "During the quarter, the firm recorded $1.45 billion in net provisions for mortgage-related litigation and regulatory matters," the company said at that time.
Goldman ranked No. 1 in global mergers and acquisitions as well as in equity underwriting in the first half of 2015, according to Thomson Reuters data.
Shares of the bank have remained mostly flat over the last 12 months, inching up about 0.8 percent.
—CNBC's Reem Nasr and Reuters contributed to this report.