Goldman Sachs CEO David Solomon (Getty Images)

Goldman Sachs shatters expectations as the bank roars back from the brink

4/15/24 11:54AM

Goldman Sachs blew the doors off expectations with a $3.9 billion profit in the first quarter, a respite following a rocky streak at the Wall Street bank marked by layoff news and departures of top executives.

The bank’s trading operations — stocks, bonds, currencies, and commodities — did well, with revenues rising 10% to $7.6 billion. Revenues in its asset and wealth management division jumped 18% to $3.8 billion. Fees from investment banking — managing bond and stock offerings, and advising corporation on M&A — jumped 32% to nearly $2.1 billion.

The market liked it, giving Goldman Sachs a nice boost.

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