NEW YORK - GOLDMAN Sachs says it had its first quarterly loss since it went public in 1999, losing US$2.29 billion (S$3.37 billion) during its fiscal fourth quarter.

Goldman's loss amounted to US$4.97 per share, proving the turmoil in the financial markets has tripped up even the best-run financial institutions. Goldman earned US$3.17 billion, or US$7.01 per share, during the year-ago period.

Analysts, who have been ratcheting down their expectations amid speculation of mounting investment losses, estimated Goldman would lose US$3.73 per share.

The investment banking sector was turned on its head in September when Lehman Brothers filed for bankruptcy and Goldman and Morgan Stanley became bank holding companies. -- AP