Goldman Sachs posts $1 billion profit
NEW YORK (CNNMoney) -- Goldman Sachs reported a fourth-quarter profit of about $1 billion on Wednesday, reversing a loss from the third quarter and topping expectations. But the company's revenue declined from a year ago and missed analysts' forecasts.
The firm, known for its lucrative annual bonuses, reported a 21% decline in compensation and benefits in 2011, to $12.2 billion. Even with the cuts, the average salary for a Goldman employee was $367,057, down from $430,700 in 2010. Goldman also trimmed its staff by roughly 7% in 2011.
Goldman reported earnings per share of $1.84 for the fourth quarter. Analysts were expecting a profit of $1.24 a share. Net income totaled $978 million in the fourth quarter, compared to a loss of $428 million in the third quarter. Goldman earned more than $2.2 billion in the fourth quarter of 2010.
The investment bank reported fourth-quarter net revenues of slightly more than $6 billion, up from $3.6 billion in the third quarter but down from $8.6 billion a year ago. Analysts had expected Goldman to report revenue of about $6.5 billion.
"Don't see any mention of their $10 billion dollar bailout money"?
http://thinkprogress.org/economy/2011/0 ... ?mobile=nc
"When they going to pay 'us' (taxpayers) back?
ref article:
http://money.cnn.com/2012/01/18/markets ... Stories%29
What about the Money they owe us?
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- Nervous Wreck
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- $parechange
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Re: What about the Money they owe us?
We have seen the last of the bailout money. It's in the exec's pockets. Thank you Obummer for another pocket lineing charity for your cronies!!
- imaposer
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Re: What about the Money they owe us?
Thank who?Spare Change wrote:We have seen the last of the bailout money. It's in the exec's pockets. Thank you Obummer for another pocket lineing charity for your cronies!!
- $parechange
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Re: What about the Money they owe us?
LOL! got me there Poser.