Tuesday, June 17, 2008

What's in a number?

Goldman Sachs announced its earning today. Two media outlets have it this way:

Goldman's Earnings Slip 11%[Go to article]
Goldman Sachs reported an 11% drop in quarterly net income amid credit losses, but results improved from the first quarter despite expectations of a rocky spring period for the brokerage. 9:53 a.m.

and: Goldman Sachs profit slips 10%

First one is the Wall Street Journal; second is MarketWatch, which is part of thje WSJ Digital network. So, which is it?

MarketWatch's story spells out the numbers: Goldman said second quarter profit dipped modestly, to $2.05 billion, or $4.58 cents a share, compared to $2.29 billion or $4.93 cents a share a year ago. The firm reported total revenue, net of interest expenses, of $9.42 billion versus $10.18 billion a year ago.

The Journal's story spells out the numbers:
For the quarter ended May 30, the biggest Wall Street bank by market value reported net income of $2.09 billion, or $4.58 a share, down from $2.33 billion, or $4.93 a share, a year earlier.

Goldman released a statement; how can two different numbers be seen?

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