A strong quarter for Wall Street lifts Goldman's first
NEW YORK (AP) — Goldman Sachs said it saw a double digit rise in its first quarter profits on Monday, lifted broadly by the stock and bond markets’ performances in the first months of the year.
The strong quarter comes after Goldman struggled most of 2023 as higher interest rates put a pause on companies doing deals and mergers. But as executives have adjusted to the new normal and interest rates appear to be heading lower, Goldman has benefitted from the change in attitude.
The New York-based investment bank posted a profit of $4.13 billion, up 28% from a year earlier. The company earned $11.67 a share for the quarter, well above analysts expectations.
Most of Goldman’s underlying businesses had a strong quarterly performance. Investment banking fees were up 32% in the quarter at $2.08 billion. The bank said most of the growth was driven in debt underwriting, likely as a result of higher interest rates requiring companies to refinance their bonds and debt.
Related articles
GOP leaders still can't overcome the Kansas governor's veto to enact big tax cuts
TOPEKA, Kan. (AP) — Republican legislators narrowly failed again Monday to enact a broad package of2024-04-30Severino finds his old form and takes a no
NEW YORK (AP) — After carrying a no-hitter into the eighth inning, Luis Severino was asked when he k2024-04-30Billie Eilish announces return to Australia in 2025 for upcoming world tour
Billie Eilish has announced her return to Australia for her new world tour.The Grammy and Oscar winn2024-04-30Jofra Archer picked by England for T20 World Cup after cruel run of injuries
Jofra Archer was selected in England’s provisional squad for the T20 World Cup on Tuesday, setting u2024-04-30Commentary: Investing in China is a superior option for multinationals
BEIJING, April 28 (Xinhua) -- A bad decision in everyday life may result in a few hours of inconveni2024-04-30Asia's first cylindrical FPSO facility completed in E China
People perform dragon dance at a delivery ceremony of Haikui No. 1, Asia's first cylindrical floatin2024-04-30
atest comment