Goldman Sachs sees profits double in Q1
Investment bank Goldman Sachs has said that Q1 profits more than doubled to $1.29bn (€1.04bn), up from $662m (€538m) in the year ago period, as the company continued to lead in global mergers and acquisitions.
Turnover increased to $5.9bn (€4.7bn) from $4.2bn (€3.4bn), driven by strong revenue from stock and bond trading.
Fixed income, currency and commodities accounted for quarterly turnover of $2.1bn (€1.7bn), with equities sales and trading reporting turnover of $1.66bn (€1.34bn), up 77% in the year ago period.
"While the environment for fixed income remained robust throughout the period, we saw significantly higher revenues in our equities-related businesses, as well as an increase in corporate activity levels," Goldman CEO Henry Paulson said in a statement.
Goldman Sachs is headquartered in New York and has 44 offices in over 20 countries.
