Goldman Sachs profit tops $3 billion on strong trading
Published: October 15, 2009
NEW YORK — Goldman Sachs again showed its trading prowess, helping the Wall Street firm earn more than $3 billion in the third quarter.
The company has reported Thursday that fixed income, commodities and currency trading buoyed its profits for the second straight quarter.
However, investors are reacting coolly to the firm’s results as revenue from its mergers and acquisitions operations dipped sharply from the previous quarter, reflecting the general slowness in takeover activity. That is helping send shares nearly 2 percent lower in premarket trading.
Goldman, which has outperformed other financial companies for years, has been the strongest bank throughout the financial crisis. It had less exposure to toxic mortgage-backed securities than other companies and also has been more aggressive in its trading.
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Reader Reactions
GuidoMcGinty-What a nice apology!
Accepted of course.
Former Treasury Secretary Paulsen made sure there was a little something extra in his former employees Christmas stocking last year.
Greta, I owe you an apology for one of my posts in the letters section last week. It was rude and I’m sorry.
GuidoMcGinty-You got that one right!
Goldman, which has outperformed other financial companies for years, has been the strongest bank throughout the financial crisis.
Wow, that’s not saying much. They were insolvent until Uncle Sam’s taxpayers stepped in at the behest of doltish legislators like Eric Cantor.
Of course that was a mere formality considering the number of ex-Goldman employees milling around the Treasury.
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