Goldman Sachs (NYSE: GS) has managed to post $7.01 EPS in its fourth quarter report. First Call had estimates of $6.61 EPS and we had a whisper number somewhere in the $7.00 neighborhood. Annualized return on equity was 34.6% for the fourth quarter of 2007. Book value per common share increased 25% to $90.43 in 2007. Assets under management rose $868 billion.
The following are the individual metrics inside the company for the quarter:
- Net revenues in Investment Banking were $1.97 billion, 47% higher than the fourth quarter of 2006 and 8% lower than a particularly strong third quarter of 2007. Net revenues in Trading and Principal Investments were $6.93 billion, 4% higher than the fourth quarter of 2006 and 16% lower than the third quarter of 2007. Net revenues in Asset Management and Securities Services were $1.84 billion, 29% higher than the fourth quarter of 2006 and 6% lower than the third quarter of 2007. Non-compensation expenses were $2.41 billion, 26% higher than the fourth quarter of 2006 and 12% higher than the third quarter of 2007.
Shares are up almost 2% at $212.90 in pre-market trading. Its 52-week trading range is $157.38 to $250.70. This one has managed to dodge the big bullet in the sub-prime mess as it had been hedged. Maybe it really should change its name to Golden Slacks.
Jon C. Ogg
December 18, 2007
Jon Ogg can be reached at [email protected]; he produces the SPECIAL SITUATION newsletter and he does not own securities in the companies he covers.
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