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$8.20 Share! Analysts were looking for $5.20 This should be a $260-$300 stock. P/E of about 8
Goldman Sachs earns $4.79B in fourth quarter Goldman Sachs earns $4.79B in 4th quarter on strong trading; Pays $16.2 in salaries, bonuses
Buzz up! 0 Print..Companies:Goldman Sachs Group Inc..Related Quotes Symbol Price Change GS 167.79 0.00
{"s" : "gs","k" : "c10,l10,p20,t10","o" : "","j" : ""} By Stevenson Jacobs, AP Business Writer , On Thursday January 21, 2010, 8:31 am NEW YORK (AP) -- Goldman Sachs Group Inc. said Thursday it earned $4.79 billion in the fourth quarter as the bank's trading business again outdistanced the rest of the financial industry
The company rewarded its employes with $16.2 billion in salaries and bonuses for 2009, up 47 percent from the previous year but still lower than many had expected.
Goldman said Wednesday it earned $8.20 a share in the last three months of the year as fixed income, commodities and currency trading buoyed its profits for the third straight quarter. Analysts surveyed by Thomson Reuters predicted Goldman would earn $5.20 a share.
The bank's stock rose $1.56, or almost 1 percent, to $169.35 in pre-opening trading.
Goldman, which has outperformed other financial companies for years, has been the strongest bank throughout the financial crisis. It had less exposure to toxic mortgage-backed securities than other companies and also has been more aggressive in its trading.
For the full year, Goldman earned $13.4 billion.
Despite that big profit, Goldman's compensation costs came in well below the record $20.2 billion the bank paid to employees in 2007. Goldman said reduced its compensation pool by $500 million in the fourth quarter and put the money in the bank's newly created charity, a move apparently aimed at blunting criticism of Goldman's outsized pay packages.
Bonuses in the overall banking industry have come under attack by lawmakers and the public after the companies lost billions of dollars in bad debts on mortgages, contributed heavily to the credit crisis and recession and then had to be bailed out by the government.
Goldman Sachs received $10 billion in bailout funds, and was one of the first to repay the money last year.
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earnings were good, but it looks like the extra earnings were just on lower compensation costs. so all in all probably in line with expectations.
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The whole market is dropping. The government's the reason. There going to tax everyone. He’s just an inexperienced president, with no business sense, and lack of knowledge on how to create jobs. He vilifies business, when there the ones that hire and fire. Tax Tax Tax.
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Huge rally started to $171.00 looking to proceed much further. Then Obama comes out and start to talk Glass Stiegel. This guy is a constitutional law professor, from Harvard. He’s looking to tax a single entity, with a specific tax on them. That’s actually a violation of the constitution. This guy has got to go. We haven’t created one job, and are now looking at a $14 Trillion deficit. If he was a CEO he would be fired
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Now there talking about limiting proprietary trading. What’s next, individual prop trading "day traders"? Where is this country going???
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