US investment bank Merrill Lynch reported its third straight quarter in the red Thursday after another massive write-down on assets from its adventure in the risky US subprime mortgage market.
The Wall Street giant said it recorded a net loss of 1.96 billion dollars for the first quarter of 2008, compared with a net profit of 2.16 billion dollars a year ago, and announced it would slash 10 percent of its workforce.
Earnings per share were 2.19 dollars, sharply higher than analysts' consensus forecast of 1.99 dollars.
