Having the U.S. government as a subsidiary is good business

Goldman Sachs 4th-Quarter Profit Doubles

From The Associated Press
Tuesday, December 12, 2006

http://biz.yahoo.com/ap/061212/goldman_earns.html?.v=1

NEW YORK -- Goldman Sachs Group Inc., the biggest investment bank on Wall Street, reported fourth-quarter profit doubled from last year on record takeover activity and robust stock market trading.The company reported a profit of $3.15 billion, or $6.59 per share, compared with $1.63 billion, or $3.35 per share, in the year-ago period. Revenue soared to $9.41 billion, up from $6.4 billion last year.

This easily surpassed Wall Street projections for earnings of $6.04 per share on $8.96 billion of revenues, according to analysts polled by Thomson Financial.

"We are very pleased with this year's performance," said Chairman and Chief Executive Lloyd C. Blankfein in a statement. "The breadth of our franchise, the diversity of our businesses, and the performance of our people enabled us to serve our clients around the world."

The stock closed at $202.52 on Monday, near its 52-week high of $206.70. Shares picked up another $1.08 in premarket electronic trading.

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