A strong quarter for Wall Street lifts Goldman's first
Time:2024-05-21 11:20:32 Source:entertainmentViews(143)
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.
Previous:Siblings trying to make US water polo teams for Paris Olympics
Next:Georgia Republicans choose Amy Kremer, organizer of pro
You may also like
- With Djokovic awaiting the winner, Murray trails Hanfmann at rain
- From Migrant Worker to Reform Pioneer
- Steel Roses Look to Bloom
- China Grabs Two Golds at Women's Boxing World Championships
- Tom Brady and Jay
- China's Talent Pool Goes for Glory
- Mutual Respect, Understanding Key to Family Happiness
- Helping Design China's First Large Passenger Aircraft
- California congressman urges closer consultation with tribes on offshore wind