Goldman Sachs earnings easily surpass expectations

JUL 14, 2009
By  Bloomberg
Goldman Sachs says its second-quarter profit easily surpassed expectations as profit was buoyed by strength in its trading and underwriting businesses. The New York-based banking giant, long considered the strongest in the sector, says it earned $2.72 billion, or $4.93 per share, after preferred stock dividends, up from $1.66 billion, or $3.39 per share, a year earlier. Analysts forecast earnings of $3.54 per share for the quarter. Goldman also recorded a charge of 78 cents per share as it repaid the government's $10 billion investment in the bank as part of the Troubled Asset Relief Program. .

Latest News

401(k) participants seek advice, but few turn to financial advisors
401(k) participants seek advice, but few turn to financial advisors

Cerulli research finds nearly two-thirds of active retirement plan participants are unadvised, opening a potential engagement opportunity.

Court revives lawsuit over 15% fund return promise
Court revives lawsuit over 15% fund return promise

'Nostradamus' real estate entrepreneur accused of misleading investors on social media despite SEC's objections.

Los Angeles Federal Credit Union splits from LPL’s CFS to Cetera
Los Angeles Federal Credit Union splits from LPL’s CFS to Cetera

LPL loses another institutional client as Cetera adds a $160 million win to its credit union partnership streak.

UBS keeps focus on costs in US wealth management business
UBS keeps focus on costs in US wealth management business

Meanwhile, the bank is also investing in technology for its financial advisors in the United States.

Vanguard seeking SEC green light to expand trademark tax-busting fund design
Vanguard seeking SEC green light to expand trademark tax-busting fund design

The Jack Bogle-founded firm is looking to apply its famed dual-share class structure to actively managed strategies.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today’s choppy market waters, says Myles Lambert, Brighthouse Financial.

SPONSORED Beyond the dashboard: Making wealth tech human

How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave