Goldman Sachs beats Street estimates, but operating results are weak. Citigroup still has operating woes.
Posted by Charley Blaine on Thursday, October 15, 2009 3:43 PM
Investment bank Goldman Sachs (GS) produced decent results today but not enough to excite investors, and Citigroup's (C) results showed the banking giant is still working to stabilize itself.
Stocks of both companies were lower today. Goldman was at $188.41, down 2%. Citigroup was down 5.4% to $4.72.
Goldman Sachs earned $3.19 billion, or $5.25 a share, in the third quarter, up from $810 million, or $1.81 a share, a year ago and topping the consensus estimate of $4.24 per share.
Goldman's net revenue rose to $12.37 billion, from $6.04 billion a year ago.
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