46 Goldman Sachs exceeded Wall Street estimates with its profit, driven by a resurgence in underwriting, deals, and bond trading in the first quarter, resulting in its highest earnings per share since late 2021. The bank’s shares surged over 3% on Monday following the strong performance in investment banking, which has traditionally been its core strength. This comeback comes after a slowdown over the past two years. Rivals like JPMorgan Chase also reported profits that surpassed market expectations, citing improving conditions for dealmaking. However, they cautioned about economic uncertainties, including the uncertain trajectory of U.S. interest rates. The results may alleviate pressure on Solomon following losses incurred from the bank’s venture into consumer banking, which led to criticism and senior departures. Stephen Biggar, a banking analyst at Argus Research, noted a rebound in capital market-sensitive revenue areas and the removal of headline risks from exiting consumer businesses. Goldman’s position as a leading adviser for mergers and acquisitions was evident in its involvement in major deals last year, including Exxon Mobil’s $60 billion purchase of Pioneer Natural Resources. You Might Be Interested In CTBC Bank’s Retail Banking CEO, Amy Yang, Talks Building Customer Engagement Jackson Enhances RILA Suite with Income Protected Lifetime Benefit Netflix plans to end password sharing in early 2023 China Advocates ‘Moderately Strengthened’ Fiscal Policy Goldman Sachs CEO announces layoffs in January COP28 will act as leading platform to promote climate justice worldwide: Jusoor International President