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Tuesday, March 21, 2000

Goldman Sachs’
first-quarter earnings
jump 67 percent

Bloomberg News


NEW YORK -- Goldman Sachs Group Inc.'s fiscal first-quarter earnings rose 67 percent, as a boom in technology stocks swelled revenue from trading and underwriting. Profit from operations at the fifth-largest U.S. securities firm for the quarter ended Feb. 29 rose to $887 million, or $1.76 a share, from $532 million, or $1.12 a year earlier.

The year-ago earnings were stated as if the firm, whose initial public offering was in May, had been a public company.

(Hawaii's Kamehameha Schools is the largest outside shareholder in Goldman Sachs, owning about 22 million shares or about 5 percent of the firm, which has a market capitalization of $52.5 billion.)

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