Goldman Beats on Revenue, Earnings As Investment Banking Fees Surge

• Goldman Sachs reported first-quarter results on Monday that beat Wall Street forecasts.
• The investment bank generated more than $14 billion in net revenue and $11.58 in earnings per share.
• Goldman reported strong growth in investment banking and asset and wealth management fees.

Goldman Sachs reported first-quarter results on Monday that beat Wall Street’s expectations.

The famous investment bank generated $14.2 billion in net revenue – an increase of 16% from the previous year and 26% from the fourth quarter of 2023 – and $11.58 in earnings per share , beating consensus forecasts on both measures.

Net revenue at the key global banking and markets division rose 15% year over year to nearly $10 billion, fueled by a 32% rise in investment banking fees and growth of 10% of revenues in its fixed income, currencies and commodities segments, and its equities businesses.

Goldman’s asset and wealth management arm posted an 18% rise in net revenue, helped by record quarterly management and other fees. Its assets under supervision increased by $36 billion to a record $2.85 trillion.

In releasing the results, Goldman CEO David Solomon said: “Our first quarter results reflect the strength of our world-class, interconnected franchises and the earnings power of Goldman Sachs.

“We continue to execute on our strategy, focusing on our core strengths to serve our customers and meet the expectations of our shareholders.”