Goldman profit tops estimates; raises dividend

Goldman Sachs Group Inc reported higher-than-expected quarterly earnings thanks to aggressive cost-cutting and strong investment banking and trading revenues, and the Wall Street bank raised its dividend.

Goldman earned $2.1 billion, or $3.92 per share. In the year-ago period, which was generally stronger for investment banks' trading and banking activity, it earned $4.38 per share, excluding a one-time cost for buying back preferred stock.

Analysts had expected $3.55 per share, according to Thomson Reuters I/B/E/S.

Goldman said it would raise its quarterly dividend to 46 cents per share from 35 cents.

Read Full Article from Reuters

- Posted: 2012-04-17 09:18:43

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