Goldman (GS): Stock Higher After $2.12 Billion Loss

Looks like that $2 billion loss number was basically right on the money… Pre-eminent Wall Street firm Goldman Sachs says it lost $2.12 billion or $4.97 per share; that’s deeper than some of the estimates that had losses in the high $3 range, but there had been fear that the loss might go much deeper. Some perspective on how far the mighty have fallen, last year the company earned $7.01 per share in the quarter.

Shares are up about 5% to $70 pre-market.

Some stats from the quarter:

  • Investment banking revenue fell 48% to $1.03 billion. That’s also 20% lower than just the previous quarter.
  • Trading revenue was negative $4.36 billion, compared to net revenue of $6.93 billion a year ago.

Total compensation expenses for the year, always closedly watched, got sliced in half to about $10 billion.

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