The Goldman Sachs Group, Inc. reports net revenues of $9.43 billion and net earnings of $1.81 billion for its first quarter ended 27 March 2009.
Diluted earnings per common share were $3.39 compared with $3.23 for the first quarter ended 29 February 2008 and a diluted loss per common share of $4.97 for the fourth quarter ended 28 November 2008. Annualized return on average common shareholders equity was 14.3% for the first quarter of 2009.
Business Highlights:
Fixed Income, Currency and Commodities (FICC) generated record quarterly net revenues of $6.56 billion, 34% higher than its previous record, reflecting strength across most businesses, including record results in interest rate products and commodities.
The firms Tier 1 Ratio under Basel II was 16.0% at the end of the first quarter of 2009, up from 15.6% as of 28 November 2008. The firms Tier 1 Ratio under Basel I was 13.7% at the end of the first quarter of 2009.
The firms average global core excess liquidity was $163.74 billion for the first quarter of 2009, up from $111.43 billion for the fourth quarter of 2008.
Given the difficult market conditions, we are pleased with this quarter’s performance, says Lloyd C. Blankfein, chairman and chief executive officer. Our results reflect the strength and diversity of our client franchise, the resilience of our business model and the dedication and focus of our people. We believe these attributes position the firm to continue to create value for our clients and actively fulfill our role in the capital markets.
L.D.