Goldman Sachs, the Wall Street investment banker bailed out by the the US Treasury a few months ago, is expected to announce a profit for the March-June period, media reports said.
Goldman, which last month paid $10.4 billion to repurchase 10,000,000 shares from the US Treasury for around $10.04 billion, including a one-time preferred dividend of around $425 million, had then said the earnings would be reflected in the company's second quarter results.
Analysts predict Goldman Sachs earnings to be around $2 billion in the March-June period, boosted by its global trading network, The New York Times reported on Sunday.
Goldman, the newspaper said, "managed to do what it has always done so well: embrace risks that its rivals feared to take and, for the most part, manage those risks better than its rivals dreamed possible."
Goldman Sachs will announce its second quarter 2009 results at a conference call tomorrow at 11:00 am (ET). The call, which will be open to the public, will discuss the firm's results, outlook and related matters.
The Goldman Sachs Group Inc is a leading global financial services firm providing investment banking, securities and investment management services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals.
Founded in 1869, the firm is headquartered in New York and maintains offices in London, Frankfurt, Tokyo, Hong Kong and other major financial centers around the world.