Without any doubts, Goldman Sachs is regarded as one of the biggest investment firms. The company is also known as a banking king, despite of all the chinks in its reputation. However, the recent condition of stock market has proved that Goldman Sachs is not immune to the ongoing financial woes.
The financial institute’s shares fell by 2% last Wednesday morning. This drop in the revenue was perhaps the second time when the GS had to break the bad news. The first time it happened, it was the company’s 4th quarter, when it had just experienced a 53% drop in its profits. That’s an overall loss of billions of dollars, which seems a bit of a challenge to make up for.
The recent results, unraveled by Goldman Sachs, are of mixed nature. The firm has previously been known for cutting worker’s compensation. Just like its rival company: JPMorgan, Goldman Sachs also started 2011 with lots of bumps and hitches in its way.
Presently, Goldman Sachs’ Facebook offering is still making headlines. It was messy and they haven’t recovered from it yet. However, if you’re willing look at this firm from a bigger perspective, it’s quite obvious that they’ve been on top of the food chain for a long time.