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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Photos Sitemap Goldman Sachs posts soaring $3.46 bln profit AFP - 1 hour 8 minutes ago Send IM Story Print Investment giant Goldman Sachs has posted surging first quarter profits of 3.46 billion dollars, doubling its profit of one year ago, even as it faces US government probe into its role in the US financial meltdown. NEW YORK (AFP) - – Investment giant Goldman Sachs on Tuesday posted surging first quarter profits of 3.46 billion dollars, doubling its profit of one year ago, even as it faces US government probe into its role in the US financial meltdown. Net earnings were up a whopping 91 percent against the same three months a year ago, blowing Wall Street expectations out of the water. "Our performance in the first quarter reflects more signs of growth across the economy and the strength of our client franchise," said Goldman chief executive Lloyd Blankfein. The earnings announcement comes as a special US Senate panel prepared next week to unveil the results of yearlong inquiries into the roles played by Goldman Sachs and credit ratings agencies such as Moody's Investors Service in the subprime mortgage meltdown. It also follows a civil fraud suit filed by the US Securities and Exchange Commission alleging that Goldman allowed the hedge fund Paulson and Company to heavily influence the selection of subprime loans, without telling investors that Paulson itself would be wagering the securities would default. Recommend Send IM Story Print News Search Top Stories Fog, rain again delay shuttle Discovery landing Greece may use EU loan by next month: finance minister Goldman Sachs posts soaring $3.46 bln profit UK financial watchdog launches Goldman Sachs probe Greece pays dearly to raise 1.95 bln euros More Top Stories » ADVERTISEMENT Most Popular Most Viewed Most Recommended Venezuelan boxer hangs himself after murder rap Volcano cloud pushes European airlines to the brink: analysts Ocean census uncovers 'new world' of marine microbe life Airlines urge governments to reopen routes Iceland eruption tapering off, spewing lava and less ash More Most Viewed » Two-million-year-old hominid sheds light on evolution Taiwan's male 'Susan Boyle' a web sensation EU emergency talks as volcano cloud havoc worsens More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos World Cup 2010 Copyright © 2010 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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