Latest of the banking giants to report Q4 and 2017 earnings results 17 Jan
More tax reform one-off charges in play with the accounting period. Adam had this piece on the creative accounting practice yesterday
- adj EPS -$5.51
- EPS ex-tx charge $5.68
- Revenue $ 7.83bln vs $7.61bln exp
First quarterly loss in 6 years.
Says GS:
- The Goldman Sachs Group, Inc. (NYSE: GS) today reported net revenues of $32.07 billion and net earnings of $4.29 billion for the year ended December 31, 2017. Diluted earnings per common share were $9.01 compared with $16.29 for the year ended December 31, 2016. Return on average common shareholders' equity (ROE) (3) was 4.9% for 2017.
- During the fourth quarter of 2017, the firm recorded $4.40 billion of income tax expense related to Tax Legislation (1). Excluding this expense, diluted earnings per common share were $19.76 (2) and ROE was 10.8% (2) for 2017
- Fourth quarter net revenues were $7.83 billion and the net loss was $1.93 billion. The diluted loss per common share was $5.51 compared with diluted earnings per common share of $5.08 for the fourth quarter of 2016 and $5.02 for the third quarter of 2017. Excluding Tax Legislation (1), diluted earnings per common share were $5.68 (2) for the fourth quarter of 2017.
Full report here
