Goldman Sachs: 4Q profit falls 21 percent
Goldman Sachs (GS) says its fourth-quarter profit dropped 21 percent as revenue from mortgages and trading in bonds and other securities weakened.
Goldman earned $2.25 billion in the
October-December quarter after paying dividends on preferred shares, down from
$2.83 billion in the same period a year earlier.
That worked out to $4.60 per share,
down from $5.60 per share a year earlier. Goldman Sachs beat the $4.18 per
share forecast by Wall Street analysts.
Revenue slipped 5 percent to $8.78
billion but exceeded analysts' forecast of $7.72 billion. Recent weakness in
the trading of bonds, currencies and commodities has depressed earnings for
Goldman.