INSTANT VIEW - Goldman Sachs beat forecast

NEW YORK (Reuters) - Goldman Sachs Group reported a stronger than forecast 33 percent rise in quarterly earnings as a gain in trading outweighed a one-time charge to repay government loans.

Wall Street's largest surviving investment bank reported net income for common shareholders of $2.7 billion (1.6 billion pounds), or $4.93 a share, compared with a pro-forma $2.05 billion, or $4.58 a share a year earlier.

Stripping out extraordinary items, Goldman earned $4.93 a share, beating analysts' consensus forecast of $3.39, according to Reuters estimates.

The following is reaction from industry analysts and investors:

TERRY MORRIS, SENIOR VICE PRESIDENT AND SENIOR EQUITY

MANAGER FOR NATIONAL PENN INVESTORS TRUST COMPANY IN READING,

PENNSYLVANIA

"I saw this coming, or at least thought I did. It's a buy the rumour, sell the news kind of thing. They did print a good number but based on yesterday's action it was apparently all built into the stock, at least for now.

"So now the stock is selling off. Just goes to show that its all relative to the expectations that were embedded into the price of the stock at the time.