More...
 

Profits At Goldman, Lehman Slashed In Half

Profits At Goldman, Lehman Slashed In Half

MarketWatch   |  Greg Morcroft   |   March 18, 2008 10:38 AM

Read More: Credit Crisis, Credit Crunch, First Quarter Profits, Global Financial Markets, Goldman Sachs, Investment Banking, Investment Banks, Lehman Bros, Trading Revenue, Wall Street, Breaking Business News
digg Share this on Facebook Huffpost - stumble reddit del.ico.us RSS

Wall Street titans Lehman Bros. and Goldman Sachs, at the center of a credit storm swirling through the global financial markets, both said Tuesday their first-quarter profits fell more than 50%, as investment-banking business slowed and trading revenues declined.

However, the results came in ahead of analyst expectations for Lehman and Goldman alike, and investors bid their respective shares higher.

Goldman Sachs reported a first-quarter profit that was just about halved from year-ago levels. The firm lost $1 billion on mortgage and other securities investments as its proprietary trading business struggled and as market conditions remained "clearly very weak."

Keep Reading...


 
Comments
2
Pending Comments
0
iPhone App Promo

Want to reply to a comment? Hint: Click "Reply" at the bottom of the comment; after being approved your comment will appear directly underneath the comment you replied to

View Comments:
- dadw5boys I'm a Fan of dadw5boys permalink
photo

I stopped trusting the number wall street handed out with DEREGULATION!!!

    Favorite    Flag as abusive Posted 12:08 PM on 03/18/2008
- Weathermaker I'm a Fan of Weathermaker permalink
photo

At this point I do not trust a single figure these guys come up with.

    Favorite    Flag as abusive Posted 11:25 AM on 03/18/2008
Comments are closed for this entry

You must be logged in to reply to this comment. Log in  or  Connect