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GOLDMAN SACHS EARNINGS BEAT EXPECTATIONS

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GOLDMAN SACHS EARNINGS BEAT EXPECTATIONS

Jan 16 2015, 2.55pm GMT

STOCK.com

Shares in Goldman Sachs were hit by the bank’s trading in bonds, currencies and commodities.

Image: iStock © BackyardProduction

As markets opened, Goldman Sachs price started with a downward gap from Thursday’s close of 178.42 to opening market price of 176.60, falling immediately to lows of 175.75, retracing and taking a second plunge in the first 20 minutes of trading.

Though earnings in the fourth quarter for the banking giant were better than expected, the share price was not supported by the figures, rather it plunged on the volatile markets that Goldman Sachs trades.

Quarterly earnings were slightly up against expectations and previous yearly data.

Forecast: earnings per share of $4.32 on $7.64 billion in revenue (Thomson Reuters).

Actual: earnings per share of $4.38 on $7.69 billion in revenue.

Lloyd C. Blankfein, Chairman and Chief Executive Officer said. “We are pleased with our performance during a year characterized by mixed global economic and financial conditions. The depth of our global client franchise and our continued discipline on expenses and capital management produced a solid return for our shareholders. Looking ahead, we see evidence of a continued pick up in momentum for the global economy that will improve the opportunity set for 2015.”

Highlights for quarterly earnings:

Fourth quarter net revenues were $7.69 billion and net earnings were $2.17 billion. Diluted earnings per common share were $4.38 compared with $4.60 for the fourth quarter of 2013 and $4.57 for the third quarter of 2014. Annualized ROE (1) was 11.1% for the fourth quarter of 2014.

Highlights for yearly earnings:

Net revenues of $34.53 billion and net earnings of $8.48 billion for the year ended December 31, 2014. Diluted earnings per common share were $17.07 compared with $15.46 for the year ended December 31, 2013. Return on average common shareholders’ equity (ROE) (1) was 11.2% for 2014.

MT4 chart: GoldmanSachs

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