Goldman loses $428 million in third quarter 18 Oct 11

People walk past the entrance to the Goldman Sachs building at 200 West Street, New York June 2, 2011.

Tue Oct 18, 2011 7:55am EDT

(Reuters) – Goldman Sachs Group Inc lost $428 million during the third quarter, only its second quarterly loss as a public company, hurt by sharp declines in the value of investment securities and customer trading assets.

The largest U.S. investment bank lost 84 cents per share, compared with earnings of $2.98 per share a year earlier.

Analysts had been expecting, on average, a loss of 16 cents per share, according to Thomson Reuters I/B/E/S.