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17

Goldman’s Profit Surges On Higher Trading Activity

By Tony Seruga

Goldman Sachs CEO Lloyd Blankfien. (Credit: JIM WATSON/AFP/Getty Images)

Goldman Sachs reported strong first quarter earnings on Thursday that easily surpassed estimates, bolstered by a surge in trading and strength in its investment banking division.

The bank said its profit climbed 40% to $2.84 billion, or $5.94 per share. This is up from $2.03 billion, or $4.02 per share, a year ago. It handily beat Wall Street analyst estimates of $4.26 per share.

Revenue increased 14% to $10.62 billion, which is its highest quarterly result in four years and easily beat analyst estimates of $9.35 billion…

Goldman’s Profit Surges On Higher Trading Activity

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