Apr 14, 2025 (Baystreet.ca via COMTEX) --
U.S. investment bank Goldman Sachs (GS) has posted first-quarter 2025 financial results that surpassed Wall Street estimates due largely to a boom in stock trading.
Goldman Sachs announced earnings per share (EPS) of $14.12 U.S. versus $12.35 U.S. that had been forecast among analysts that track the company's progress.
Revenue in the January through March period totaled $15.06 billion U.S. compared to $14.81 billion U.S. that analysts had penciled in for the company.
The bank's profit rose 15% and its revenues increased 6% from a year earlier.
Goldman Sachs is the latest in a series of Wall Street firms to report better-than-expected financial results due to stock trading during the first quarter.
Markets boomed in January and early February, hitting successive all-time highs, before U.S. President Donald Trump imposed import tariffs on more than 100 countries worldwide.
JPMorgan Chase (JPM) and Morgan Stanley (MS) also topped expectations for their Q1 financial results due to a boom in equity trading.
Goldman Sachs Chief Executive Officer (CEO) David Solomon addressed the turmoil caused by President Trump's tariffs in the bank's earnings statement.
"While we are entering the second quarter with a markedly different operating environment than earlier this year, we remain confident in our ability to continue to support our clients," said Solomon.
The stock of Goldman Sachs has declined 14% so far in 2025 to currently trade at $494.44 U.S. per share.
COMTEX_464541700/2559/2025-04-14T09:42:36
