Is Goldman About To Report Only The Second Loss Since Its 1999 IPO?

by ZH

For all its criticisms, if there is one thing one can say about Goldman, is that unlike their pathetic TBTF cousins in the US financial industry (JPMorgan, Citi, and shortly Morgan Stanley and Bank of Countrywide Lynch), it can report a loss like a man. Which, in less than 24 hours, it may have to do, for only the second time since its 1999 [...]

Aloca: Given that expectations were cut twice recently, to have still missed them is not good.

10 cents vs. 11 cents EPS expected.
4.9 billion revenues vs. 5.2 billion expected.

Revenue miss especially bad.

Even regardless of the comparison with last year, this company needs to be earning $0.90 to $1.10 per year to justify the $14 share price. 11c is poor unless they have really strong quarters at other times of the year.

Regarding these laughable, criminally rigged “estimates” that have been quietly lowered in the background…Oh, you don’t [...]