Goldman reports $1.8 billion profit
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The big investment firm also sets plans to sell $5 billion in stock, paving the way for it to repay its TARP loans.
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Colin Barr
Fortune
Goldman Sachs reported a much stronger-than-expected first-quarter profit Monday, bouncing back from its worst quarter as a public company.
Goldman (GS, Fortune 500) also set plans to raise $5 billion through a sale of stock, saying it wants to become the first big bank to repay the federal loans extended during last fall's financial sector meltdown.
In reporting its results a day earlier than expected, New York-based Goldman said it earned $1.81 billion, or $3.39 a share, for the quarter ended March 31. Analysts surveyed by Thomson Financial were looking for a profit of $1.64 a share.
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Filed under: Economy |
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Isn't this where all the AIG money went?
GS is a top pick on stocktwits. Also buying GS options. Hope it opens good tomorrow