Tuesday, July 14, 2009

Goldman Sachs sees bumper profit !

Goldman Sachs booth at the New York Stock Exchange
Goldman Sachs shares have gained about 75% this year

US bank Goldman Sachs has unveiled net earnings of $3.44bn (£2.1bn) for the April to June period - well above what analysts had forecast.

It comes after the bank startled Wall Street by reporting it made $1.8bn in the first three months of the year, despite the economic crisis.

The firm has recently paid back $10bn in federal aid intended to help it steer through the global turmoil.

It is expected to pay about $18bn in pay and bonuses to its 28,000 staff.

Six months ago, Goldman saw its first quarterly loss since going public in 1999, after being battered by the economic crisis.

Its share price, while still well off its high, has gained about 75% in 2009.




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