Trades and observations from a British contrarian stock investor

This blog is not intended to give financial advice. Before investing, do your own research and consult your financial adviser if appropriate. The accuracy of any information included is not guaranteed and may be subject to conjecture or interpretation by Contrarian Investor. Therefore visitors should validate all facts using alternative sources where possible.

Tuesday, April 20, 2010

Goldman Sachs and Coke deliver strong quarter

Goldman Sachs (GS) has just reported that its quarterly profit doubled compared with the same period a year earlier. Goldman's net income rose to $3.3 billion, $5.59 ashare, from $1.66 billion, or $3.39 a share in the same period in 2009. Estimates were for earnings per share of $4.16. Top line revenue rose 35% to $12.78 billion.

The earnings news has created significant controversy after the news that the SEC was investigating Goldman for potential fraud on a CDO product announced last week and the Financial Services authority (FSA) announcing their own enquiry today. Prime Minister Gordon Brown said he was shocked by the "moral bankruptcy" exposed by the SEC's suit.

Coca-Cola (KO) reported increased earnings of $1.61 billion, or 69 cents a share, from $1.35 billion, or 58 cents, earned in the year-ago period. Adjusted net income was 80 cents a share and revenue rose to $7.53 bn, up 5% versus a year ago as the company delivered volume and market share growth. Analysts estimated earnings of 74 cents a share and revenue of $7.66 billion.
Posted by Contrarian Investor UK at 1:50 PM
Labels:

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)