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The profit of Goldman Sachs decreased with 53%

The U.S. bank Goldman Sachs reported a significant decline in profit for the last quarter of 2010 and revenues were below expectations of market analysts. This caused a decline in the share price of Goldman from 2,7 per cent before the start of today's session of the Stock Exchange in New York. Profits at Goldman Sachs for the fourth quarter of 2010 was 2.23 billion dollars or 3.79 dollars per share. This is 53% weaker result achieved for the same period of previous year 4.79 billion profit, which equals 8.20 dollars per share. The revenues of the bank has dropped by 10 percent annually to 8.64 billion dollars. The preliminary estimates of analysts was for earnings of 3.76 dollars per share on total revenues of $ 9 billion. The net revenue from trading fixed income instruments, currencies and raw materials has shrunk by 39 percent compared to the third quarter of 2010 and amounted to 1.64 billion dollars. This, according to the bank due to "weakness among customers. With a major contribution to reduced earnings are payments to the U.S. government. Goldman Sachs paid significant dividends on preferred shares issued in favor of the state in return received the 2008 bailout.
The management of the financial institution announced that "there are signs of growth and increased economic activity" after "difficult" market and economic trends seen in 2010.