Goldman Sachs says 4Q profit falls 21 percent

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http://gazette.com/goldman-sachs-says-4q-profit-falls-21-percent/article/feed/79485

Goldman Sachs says 4Q profit falls 21 percent
Published: January 16, 2014

Goldman Sachs 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 trading of bonds, currencies and commodities have depressed earnings for Goldman.

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