Banking, finance, and taxes
Goldman Sachs (GS) Hits The Cover Off The Ball
Published:
Last Updated:
Maybe the recovery of the major banks and investment houses is not a mirage. Maybe it is the real deal.
Goldman Sachs (GS) reported net revenues of $9.43 billion and net earnings of $1.81 billion for its first quarter ended March 27, 2009. Diluted earnings per common share were $3.39 compared with $3.23 for the first quarter ended February 29, 2008 and a diluted loss per common share of $4.97 for the fourth quarter ended November 28, 2008.
The big money came from its fixed income, currency and commodities which generated record quarterly net revenues of $6.56 billion, 34% higher than its previous record.
According to MarketWatch, “Analysts had been anticipating earnings of $1.64 a share, according to Thomson Reuters data.”
Goldman also said it would raise that beginning a public offering of $5 billion of its common stock for sale to the public. Goldman, Sachs & Co. will serve as the sole underwriter for the transaction.
Goldman Sachs said in a statement that it intends to use proceeds of the $5 billion offering to help redeem “all of the TARP capital.”
Douglas A. McIntyre
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
