Goldman Sachs (NYSE:GS) reported fiscal Q1 earnings of .3 billion with its trading business again outperforming the rest of the financial industry. The better-than-anticipated earnings comes as a welcomed relief as the investment bank struggles to maintain its respected name in the wake of an SEC fraud case.
Goldman reported its quarterly EPS came in at .59, blowing past consensus estimates of .01.
Revenues in the quarter surged 35.5% year-over-year to .78 billion, vs. consensus estimates of .2 billion.
The company said it set aside 43% of revenue in order to pay expenses from employee salaries and bonuses, down from 50% for the same period last year.
“In light of recent events involving the firm, we appreciate the support of our clients and shareholders, and the dedication and commitment of our people,” said the bank’s CEO Lloyd Blankfein.
Highlights from LexisNexis Mortgage Asset Research Institute Twelfth Periodic Mortgage Fraud Case Report. The LexisNexis Mortgage Asset Research Institute is a leading provider of information… Video Rating: 0 / 5
2nd guilty plea in California tainted beef case
SAN FRANCISCO — A second defendant has pleaded guilty in a case alleging that a Northern California slaughterhouse at the center of a massive recall processed and distributed tainted beef. Eugene Corda, an employee of Petaluma-based Rancho … Read more on The State
2nd guilty plea in Rancho Feeding slaughterhouse scandal
Rancho recalled 8.7 million pounds of beef in February, a month after federal investigators raided the plant on Petaluma Boulevard North. The recall affected an estimated 44,000 retail establishments and caused significant financial harm to North Bay … Read more on Santa Rosa Press Democrat
Government Settles on Plea Deal With Rancho Yardman
Early in the investigation, Rancho recalled all of its beef production going back for the previous year, or about 8.7 million pounds. It also was forced to close down and ultimately sell the Petaluma slaughterhouse. It has since resumed operations … Read more on Food Safety News
Ex-banker heads to Florida to testify in Weil case
A former top executive at Neue Zürcher Bank (NZB) has turned himself over to the United States justice authorities and may testify in the trial of ex-UBS banker Raoul Weil next week, according to media reports. Swiss public radio, RTS, said on … Read more on swissinfo.ch