NEW YORK -- In an announcement that caught Wall Street by surprise, Salomon Inc. said yesterday that its third-quarter earnings plunged.
Salomon said its earnings plunged 93 percent, to $6 million from $85 million in the corresponding period in 1991.
There was a per-share loss for the most recent quarter after preferred dividends were paid. Revenues, after interest expenses, totaled $636 million, down from $880 million in last year's third quarter.
