|
Net loss applicable to shareholders was $2.14 billion or $5.51
per share in the fourth quarter ended Dec. 31, compared with
profit of $2.15 billion or $5.08 per share last year. http://bit.ly/2Ba6H9f
The quarter included a one-time charge of $4.40 billion from the
sweeping tax code changes enacted by President Donald Trump.
A big chunk of the charge is on the repatriation taxes - the
cost of moving money from foreign countries to the U.S. - the
bank had said in December.
However, excluding the one-off charge and other items, the Wall
Street bank recorded earnings per share of $5.68. Analysts were
looking for $4.91 cents per share, according to Thomson Reuters
I/B/E/S estimate.
Revenue from investment banking - which includes fees from IPOs,
underwriting and M&A advisory - rose 44.1 percent to $2.14
billion.
From trading bonds, currencies and securities (FICC), the
company earned $1 billion, down 50 percent from last year.
Goldman has been actively shifting towards lesser
market-sensitive divisions, such as investment management and
consumer lending, to stave off some of the volatility from its
bond and equity trading division - a unit that has seen the most
headwinds over the last couple of quarters.
Revenue, including net interest income, fell 4.1 percent to
$7.83 billion, but beat average estimates of $7.61 billion.
Total operating expenses fell 1 percent to $4.73 billion.
(Reporting By Aparajita Saxena in Bengaluru; Editing by Bernard
Orr)
[© 2018 Thomson Reuters. All rights
reserved.] Copyright 2018 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
 |
|
