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Benzinga
  • 23 hours ago
Goldman Sachs' equity traders set an all-time bank record with $5.33B in Q1 revenue, surpassing the previous record by over $1B, driven by Iran war volatility. Fixed-income revenue of $4.01B missed estimates by $800M, falling 10% year over year. Advisory fees surged 89% to $2.84B on stronger merger activity. Shares fell 4.1% in early trading.
Transcript
00:00It's Benzinga bringing Wall Street to Main Street.
00:02Goldman Sachs' equity traders exceeded their previous quarterly record by more than $1 billion
00:07as Iran war-driven volatility boosted results and offset weaker fixed income performance,
00:12according to Bloomberg. The bank said its stocks division generated $5.33 billion in first quarter
00:17revenue, surpassing its prior $4.31 billion record and setting the highest quarterly total ever
00:22recorded by any bank. Fixed income, currency, and commodities revenue totaled $4.01 billion,
00:28missing analyst estimates by more than $800 million and falling 10% from a year earlier.
00:33Advisory fees rose 89% to $2.84 billion on stronger merger activity. The bank said its backlog of
00:39fees declined slightly from the prior quarter and noted leadership changes and executive pay
00:43increases. Shares fell 4.1% in early New York trading. For all things money, visit Benzinga.com.
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