Goldman Cuts Costs, Boosts Dividend

REPLAY VIDEO
Your next video will start in
Pause
  • Info

  • Comments

  • VIDEO TEXT

Oct. 17 (Bloomberg) -- Goldman Sachs, the world’s most profitable securities firm before the financial crisis, said earnings were little changed as the bank cut costs in response to a 20 percent drop in revenue. Scarlet Fu reports on Bloomberg Television's "In The Loop." (Source: Bloomberg)

Have improved.

Optimism from roger altman this morning.

But to see you.

Thank you.

-- good to see you.

Breaking news on goldman sachs.

The reported earnings last hour.

Came in well above earnings.

Scarlet fu is all over it.

Earnings-per-share number, bottom line came in well above estimates, $2.88. almost on every other mark, goldman sachs came in below estimates.

Revenue six point $2 billion, a drop of 15% from the second quarter.

Analyst looking for $7.4 billion in topline.

Where they really came up short was fixed income currencies and commodities.

The biggest part of the business.

This is where it makes its money.

1.4 billion for the quarter, down almost 50% from the second quarter.

They blamed the work net revenue mortgages and interest products as well as currencies.

Lloyd went fine talked about a challenging environment characterized by economic uncertainty.

-- lloyd blankfein.

Basically, the theme is that goldman sachs made up for everything by cutting expenses drastically.

Operating expenses fell by 24% versus the second quarter.

Putting aside a lot more money for compensation.

Typically the biggest expense.

Thank you very much.

We will have a whole lot more on goldman sachs when goldman sachs continues.

-- when su we continue.

This text has been automatically generated. It may not be 100% accurate.

Advertisement

BTV Channel Finder

Channel_finder_loader

ZIP is required for U.S. locations

Bloomberg Television in   change