Goldman Sachs Group Inc. (NYSE:GS), the fifth-largest bank in the U.S., could have had a worse fourth quarter than even its competitors in the banking industry, and is expected to report a 23.7 percent decrease in earnings per share in the fourth quarter of 2013 as a result of a steep decline in trading revenue.
The investment bank will report fourth-quarter earnings on Thursday before markets open. Analysts, polled by Thomson Reuters Eikon, expect Goldman Sachs’ net income to drop 25.2 percent to $2.12 billion compared to the same quarter last year, while earnings per share are expected to fall from $5.60 to $4.27.
Revenue is projected to drop 16.5 percent, from $9.24 billion in the fourth quarter of 2012 to $7.71 billion. Excluding one-time items, analysts expect earnings per share of $4.23 from $5.60 in the fourth quarter of 2012.
All corners of big banks’ trading operations have been experiencing a slump this year, so Goldman Sachs’ troubles are by no means theirs alone
Read more : Goldman Sachs Group Inc (GS)
No comments:
Post a Comment