Vladimír Urbánek (Kurzy.cz)
World markets  |  January 16, 2013 15:37:49

Goldman Sachs earnings beat estimates in 4Q12 Market


The fifth largest U.S. bank Goldman Sachs 4Q last year posted a net profit of 2.89 compared to 1.01 mld.USD mld.USD in 4Q11. After excluding preferred shares net income for regular shareholders reached mld.USD 2.83 = $ 5.6 per share compared to last year's 978 million or $ 1.84 per share. Market reckoned in this regard at a profit at $ 3.66 with overall estimates range from 2.56 to 4.8 USD.

Bank Q4 revenue rose 53% to 9.24 mld.USD, total operating expenses increased by 3% to 4.92 mld.USD.

Total revenue last year, the bank increased by 19% to 34.2 mld.USD, net profit for the whole year by 68% to 7.48 mld.USD. Earnings per share rose by 191% to 7.29 mld.USD $ 14.13 respectively.

Bank shares are responding to the report of growth of less than 3%. Since the beginning of the year to the end of yesterday's title gained 6.3%, and in 2012 the title improved by 41%. Bank over the past year increased the dividend twice from 35 to 50 cents per share.

Return on equity in 2012 increased to 10.7% compared to 3.7% in 2011. The value of fixed assets increased to $ 134.06 per share, compared with $ 119.72 a year ago.

The amount of remuneration shall be for the full year increased by 6% to 12.9 mld.USD thus representing 38% of total sales compared to 42% last year. The average amount of remuneration for each of the 32,400 employees had risen to 399 506 USD.

Investment Division in 4Q revenue rose more than twofold to 1.97 mld.USD. For the full year 2012, then to 5.89 billion compared with 2.14 billion USD in 2011.
Division of Trading and sales growth recorded 42procentní mld.USD 4.34 in Q4 or 5 percent growth to 18.1 mld.USD for the full year 2012.
Division of fixed income and currency trading and commodities revenues rose by 50% to 2.04 mld.USD Q4 respectively by 10% to 9.91 mld.USD for all of last year.
Division securities rose in 4Q revenue up 38% to 2.3 mld.USD or is decreased by 1% to 8.21 mld.USD for year-round basis.
Investment Banking Division in 4Q revenue rose by 64% to 1.41 mld.USD respectively by 13% to 4.93 mld.USD for the whole year.
Consultancy division lifted revenues in Q4 by 8% to 508 mill.USD or decreased by 1% to 1.98 mld.USD for all of last year.
Proceeds from subscription of shares and bonds rose in Q4 by 132% to USD 897 million or 25% to 2.95 billion in annual comparison. Goldman Sach include last year's 7thrung in the volume of underwritten corporate bonds, the same as in 2011.
Asset management division lifted revenues in Q4 by 20% to 1.52 mld.USD respectively by 4% to 5.22% for the full year 2012. The total volume of assets under management in the 4Q increased by 26 to a total of 854 mld.USD mld.USD.

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