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Goldman Sachs reports surprise profit surge thanks to strong trading, dealmaking

Posted on AllSides April 15th, 2024
From The Right

Goldman Sachs recorded a 28% surge in quarterly profits — topping Wall Street’s expectations thanks to surprising strength in the bank’s trading and investment banking operations. The Wall Street giant said Monday its first quarter earnings jumped to $4.13 billion. Revenue for the three months ended March 31 rose 16% to $14.21 billion, blowing past analysts’ estimates by more than $1 billion. Goldman’s return on equity, a closely watched metric of profitability for Wall Street banks, surged to 14.8% — nearly double the mere 7.5% returns it posted in 2023,...

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