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Barclays Profit Down 25%
World Economy

Barclays Profit Down 25%

Barclays Plc said profit fell 25% in the first quarter as it posted a larger loss in the division that holds the businesses it no longer wants, while revenue at the investment bank fell less than expected in turbulent markets, Bloomberg reported. Reported pretax profit fell to £793 million ($1.15 billion) from £1.06 billion a year ago, the London-based bank said in a filing Wednesday. Revenue dropped 13% to £4.6 billion, topping the £4.48-billion average estimate of nine estimates provided by the company. 

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