Close Close

Portfolio > Economy & Markets

Goldman Sachs Reports Q3 EPS of $2.98 vs. $5.25 Last Year

Your article was successfully shared with the contacts you provided.

The Goldman Sachs Group (GS) on Tuesday reported third-quarter 2010 revenues of $8.9 billion and profits of $1.9 billion, with earnings per share at $2.98 versus $5.25 for third-quarter 2009 and $0.78 for third-quarter 2010.

Analysts’ expectations were for EPS of $2.42.

In its Q3 2010 release, Goldman put return on equity at 10.3% for the quarter, and ROE of 11.6% for the first nine months of 2010.

The bank, which suffered a slowdown in trading along with the rest of Wall Street this quarter, continues to recover from the impact of a $600 million U.K. bank payroll tax and a $550 million settlement with the Securities and Exchange Commission over disclosures in the ABACUS 2007-AC1 collateralized debt obligation offering.

GS stock, which closed Monday at $153.70 per share, traded in a range Tuesday after the earnings release between $153.84 and $159.70. The stock closed Tuesday at $156.72.

“Our third-quarter results reflect solid performances across our businesses,” said Chairman and CEO Lloyd Blankfein in a statement. “While economic conditions continue to be challenging in a number of important markets, our focus is on helping our clients achieve their goals.”

Read about Goldman Sachs’ Q2 2010 earnings about at