Goldman Sachs profits rise 7% on investment banking

The Goldman Sachs booth on the floor of the New York Stock Exchange Goldman Sachs' profits were bolstered by its investment banking arm

Related Stories

A strong performance in its investment banking division bolstered Goldman Sachs profits during the first three months of 2013.

The firm made $2.26bn (£1.47bn) net profits, a 7% rise when compared with the same period last year.

The investment banking division made $1.57bn, a 36% rise, during the period.

Goldman's total revenue rose just 1% to $10.1bn. The figures were ahead of analysts' expectations.

Earnings at the company's equity arm fell 15% to $1.92bn, which mostly reflecting a slowdown in trade executions and volumes on behalf of its clients.

"We are pleased with our performance for the quarter," said Lloyd Blankfein, chairman and chief executive.

"Our strong client franchise across our businesses drove generally solid results.

"Still, the potential for macro-economic instability was felt in the quarter and constrained overall corporate and investor activity. We continue to be very focused on controlling our costs and efficiently managing our capital."

More on This Story

Related Stories

The BBC is not responsible for the content of external Internet sites

More Business stories

RSS

Features

  • Shiny bootsMarching orders

    Where does the phrase 'boots on the ground' come from?


  • Almaz cleaning floorAlmaz's prison

    Beaten and raped - the story of an African servant in Saudi Arabia


  • Train drawn by Jonathan Backhouse, 1825The first trainspotter

    Did this drawing mark the start of a misunderstood hobby?


  • MarijuanaHigh tech

    The start-ups hoping to transform the marijuana industry


  • Child eating ice creamTooth top tips

    Experts on ways to encourage children to look after their teeth


BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.