Goldman Sachs reports 4Q loss on big charge for US tax reform
Goldman Sachs reports 4Q loss on big charge for US tax reform
New York - Al Maghrib Today
Goldman Sachs reported a rare quarterly loss Wednesday due to a one-time charge associated with US tax reform. Performance across operating division was mixed.
The US investment banking giant reported a fourth-quarter loss of $2.1 billion, compared with a profit of $3.7 billion in the year-ago period.
The loss was driven by $4.4 billion in one-time charges, mostly due to US tax reform provisions on the repatriation of foreign earnings.
Source: AFP
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