Goldman 2Q EPS 78C vs. $1.99 Estimates
Ouch…. It looks bad on first sight, but when we exclude non-recurring items (SEC settlement, U.K. bank payroll tax) the figure is $2.75.
The Goldman Sachs Group, Inc. (NYSE: GS) today reported net revenues of $8.84 billion and net earnings of $613 million for its second quarter ended June 30, 2010. Diluted earnings per common share were $0.78 compared with $4.93 for the second quarter of 2009 and $5.59 for the first quarter of 2010. Annualized return on average common shareholders’ equity (ROE) (2) was 7.9% for the second quarter of 2010 and 13.1% for the first half of 2010.
Excluding the impact of the $600 million related to the U.K. bank payroll tax and the $550 million related to the SEC settlement, diluted earnings per common share were $2.75 for the second quarter of 2010 and annualized ROE was 9.5% (1) for the second quarter of 2010 and 14.8% for the first half of 2010.