Goldman Sachs swings to loss on tax charge

(Reuters) - Goldman Sachs Inc on Wednesday reported a quarterly loss, hit by a one-time charge of $4.40 billion from the sweeping tax code changes enacted by President Donald Trump.

Net loss applicable to shareholders was $2.14 billion or $5.51 per share in the fourth quarter ended Dec. 31, compared with profit of $2.15 billion or $5.08 per share last year. http://bit.ly/2Ba6H9f

Excluding the one-off charge and other items, the Wall Street bank recorded earnings per share of $5.68.

Analysts on average were looking for $4.91 per share, according to Thomson Reuters I/B/E/S. It was not immediately clear if the numbers were comparable.

 

(Reporting By Aparajita Saxena in Bengaluru; Editing by Bernard Orr)