Goldman Result Reflects Lower Top-Line Growth
Zacks.com submits:
The Goldman Sachs Group Inc. (GS) second quarter 2010 earnings per share of $2.75 were significantly ahead of the Zacks Consensus Estimate of $2.10. Including the impact of $600 million related to the U.K. bank payroll tax and $550 million related to the Securities and Exchange Commission (SEC) settlement, earnings per share were 78 cents for the second quarter of 2010.Last week, Goldman announced that it would pay $550 million to the SEC to settle a civil fraud suit linked with mortgage investments, which had been filed in April. During the second quarter of 2010, the U.K. enacted a law that imposed a non-deductible 50% tax on certain financial institutions in respect of discretionary bonuses in excess of £25,000 ($0.4 million) awarded under arrangements made between December 9, 2009 and April 5, 2010 to relevant banking employees.Complete Story »
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