Goldman Sachs Q1 Profits Rise Amid Trading Surge

Goldman Sachs reported a significant increase in first-quarter profits, driven primarily by a surge in equities trading revenue amidst market volatility caused by President Trump's tariffs. The bank posted a profit of $4.74 billion, or $14.12 per share, surpassing analyst expectations of $12.33 per share, with total revenues up 6% to $15.06 billion. The heightened trading activity was a result of investors seeking to hedge against the uncertainty created by the tariff announcements, which affected global markets. Despite this, Goldman experienced a decline in revenues from its investment banking division. CEO David Solomon expressed confidence in the bank's ability to support clients amid a changing economic environment. While Goldman Sachs' stock was up in premarket trading, the overall market remains volatile with ongoing concerns about the global economic impact of the tariffs.