Goldman Sachs (GS) reported quarterly earnings that beat analyst estimates due to aggressive cost cutting, as well as strong revenues in iits investment banking and trading businesses. The company earned $2.1 billion, or $3.92 per share, versus $4.38 per share in teh same period last year. Analysts had expected a profit of $3.55 per share. The company also announced that it was raising its quarterly dividend to 46 cents from 35 cents.
Shares are about even in early trading.
Last week, JP Morgan (JPM) and Wells Fargo (WFC) also announced earnings that beat expectations.
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