Goldman’s Profit Falls but Tops Estimates

Goldman Sachs said on Wednesday that it earned $978 million in the fourth quarter, well below the $2.23 billion it posted in the period a year earlier, as it continued to struggle with lackluster economic conditions both here and abroad.

Still, the performance of $1.84 a share exceeded the expectations of analysts polled by Thomson Reuters, who were predicting Goldman would earn $1.24 a share.

And while the result is below that of a year ago and a world away from the earnings power Goldman was once known for, it is better than the showing in the third quarter, when Goldman posted a loss for only the second time since it went public in 1999.

Read Full Article from New York Times

- Posted: 2012-01-18 12:50:45

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