The storied firm earned $3.46 billion, amounting to $5.59 a share and a surge of 91% over last year’s results. Even more impressive, this year’s first-quarter earnings were $1.50 a share above consensus estimates of securities analysts. Revenues jumped 36% to $12.78 billion.
SEC Shows New Leadership in Charges Against Goldman Sachs
But the earnings report is not the big story for the world’s most successful investment banker, a financial juggernaut that earns $220,000 per employee. The SEC, in an unaccustomed role of late, filed a law suit and rained on the company’s parade.
The commission is showing signs of renewed life, under new chair Mary Schapiro. On April 16 the federal securities regulator filed a civil complaint against Goldman, charging fraud in its lack of full disclosure to certain investors in 2007.
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