Goldman Sachs scores big in latest quarter

Goldman Sachs moved closer to resuming its position as the world's premier financial firm Tuesday after reporting profits that easily topped Wall Street expectations.

Helped by a strong performance within the firm's fixed-income and its broader trading business, the New York City-based firm said it earned $3.44 billion, or $4.93 a share. Just a year ago, Goldman Sachs reported a profit of $2.1 billion, or $4.58 per share.

Much of Wall Street was anticipating a blowout quarter from the investment bank, heading into Tuesday's announcement. Consensus estimates among analysts polled by Thomson Reuters was for net income of $1.73 billion, or $3.54 a share.

Read Full Article from CNNMoney.com

- Posted: 2009-07-14 09:11:43

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