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Goldman shares down despite Q1 earnings

2010-04-21 15:36 BJT

Goldman Sachs Group reported high quarterly earnings on Tuesday, but investors appeared to be focusing more on the U.S. fraud case against the bank.

Goldman said first-quarter net income nearly doubled to 3.29 billion US dollars. This was bolstered by strength in fixed income trading and principal investments. The earnings of 5.59 US dollars a share easily exceeded analysts' average forecast of 4.01. But the forecast-beating results failed to bolster the group's sagging shares, which slipped 2.1 percent.

Analysts say the rash of negative headlines about the company in recent days has had a counter balancing affect of the positive sales results.

Editor: Zhang Ning | Source: