Goldman Gains in Worst Wall Street Quarter Since '01 |
| Bloomberg - Dec 18, 2007 |
Goldman Sachs Group Inc., the world's largest securities firm, reported record earnings in the worst quarter for Wall Street in six years.
Fourth-quarter net income climbed 2 percent to $3.22 billion, or $7.01 a share, from $3.15 billion, or $6.59, a year earlier, the New York-based firm said in a statement. Goldman fell as much as 2.4 percent in New York Stock Exchange composite trading after Chief Financial Officer David Viniar said he was ``cautious about the near-term outlook.''
Goldman, led by Chief Executive Officer Lloyd Blankfein, shattered annual Wall Street profit records for the fourth consecutive year, sidestepping mortgage losses that unseated CEOs at Merrill Lynch & Co., Citigroup Inc. and UBS AG. Goldman, which reaped a third-quarter profit by taking a ``short'' position on mortgages, said today that revenue from home loans rose in the three months ended Nov. 30 and the company earned about $500 million on loans to finance leverage buyouts.
Read Full Article from Bloomberg
- Posted: 2007-12-18 10:55:04
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