Goldman said earnings for the three months ending in March were pegged at $18.60 per share, nearly six times higher than the tally from last year and firmly ahead of the Street consensus forecast of $10.22 per share. Group revenues, Goldman said, rose 102% to $17.7 billion, again beating analysts' forecasts of a $12.4 billion tally.
Global markets revenues were up 47% to $7.58 billion, the largest tally in more than a decade, Goldman said, with equities revenues surging 68% to $3.69 billion. Investment banking revenues were also impressive, rising 73% from last year to $3.77 billion.
“We have been working hard alongside our clients in preparation for a world beyond the pandemic and a more stable economic environment," said CEO David Solomon. "Our businesses remain very well positioned to help our clients reposition for the recovery, and that strength is reflected in the record revenues and earnings achieved this quarter."
"I am proud of our people for the performance they’ve delivered for clients over the past year under challenging conditions, and pleased that our client-centric strategy continues to drive additional value for our shareholders,” he added.
Goldman Sachs shares were marked 1.7% higher in early trading immediately following the earnings release to change hands at $333.12 each.
JPMorgan also saw big gains from its investment banking and trading divisions, with the former by $2 billion to $2.9 billion.
Fixed income markets revenues surged 15% from last year to $5.8 billion. Equity markets revenues, however, were the standout gainer, surging 47% to a forecast-beating $3.3 billion.