Goldman Sachs reports 4Q loss on big charge for US tax reform

New York, Jan 17: Goldman Sachs on Wednesday said it lost $1.93 billion in the fourth quarter, as the bank had to record more than $4 billion in charges related to the new tax law.

Goldman witnessed a net loss of $5.51 a share, as compared with a profit of $2.35 billion, or $5.08 a share, in the same period last year, according to The Washington Post report.

Excluding the one-time charges, the bank gained $5.68 a share, beating analysts’ estimates.

The $4.4bn charge forced Wall Street bank Goldman Sachs into its first quarterly loss since the third quarter of 2011.

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