Merrill Lynch & Co. today said third-quarter profit fell 8 per cent amid reduced investment banking and trading.
Merrill Lynch, based in New York, reported net income of $920 million, or 93 cents per share, down from $1 billion, or $1 per share, a year earlier.
Net revenue fell 3 per cent to $4.8 billion.
Pre-tax earnings from the global markets and investments segment fell 22 per cent to $771 million as net revenue decreased 9 per cent to $2.3 billion.