Goldman Sachs sees 53 per cent profit fall

first_img Goldman Sachs sees 53 per cent profit fall alison.lock whatsapp More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comMark Eaton, former NBA All-Star, dead at‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comPuffer fish snaps a selfie with lucky divernypost.comUK teen died on school trip after teachers allegedly refused her Wednesday 19 January 2011 8:26 am Tags: NULL Goldman Sachs has posted a 53 per cent decline in quarterly profit, in part reflecting lower results in fixed-income trading.Fourth-quarter net income after payment of preferred stock dividends totaled $2.23bn (£1.4bn), or $3.79 per share, compared with $4.79bn, or $8.20 a share, a year earlier.Goldman said net revenue fell ten per cent to $8.64bn, compared with the average analyst forecast of $9bn.Its shares fell 2.7 per cent to $169.90 in premarket trading.Net revenue in fixed income, currency and commodities slid 39 per cent from the third quarter to $1.64bn, reflecting what Goldman called “generally low client activity levels.”Still, Chief Executive Lloyd Blankfein in a statement said the bank is “seeing signs of growth and more economic activity” following “difficult” market and economic conditions for much of 2010.Results at Goldman may signal what investors can expect when Morgan Stanley and Bank of America Corp report their quarterly results later this week.“If Goldman Sachs can’t show a strong performance, then good luck to anyone else trying,” said Simon Maughan, an analyst at MF Global in London.Much of Goldman’s profit will flow to bankers and traders as bonuses.Compensation per employee for 2010 fell 14 per cent from 2009 to about $431,000, and total pay and benefits fell 5 per cent to $15.38bn.Still, the ratio of compensation and benefits to net revenue rose to 39.3 per cent from 35.8 per cent. whatsapp Share Show Comments ▼last_img

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