Goldman Sachs rides equities surge to bumper quarter as FICC slips
Goldman Sachs posted a strong first quarter with net income of $5.6bn, powered by a 27% rise in equities revenue to $5.3bn, beating estimates; however, fixed income, currencies and commodities revenue dropped about 10% to $4bn, dragging on overall performance despite the firm’s best trading quarter in years. Investment banking fees rose, assets and wealth management grew, and the bank returned over $6bn to shareholders, while shares slid after the results.
