Goldman profit smashes expectations on booming investment banking

Goldman Sachs Group Inc on Wednesday easily beat Wall Street expectations for first-quarter profit, as the U.S. investment bank capitalized on record levels of global dealmaking activity and a coronavirus-driven boom in stock market trading.

Overall investment banking revenue rose 73% to $3.77 billion, its highest since 2010, while equities trading surged 68% as a jump in trading by ordinary investors fed stock market volatility. Global investment banking fee hit an all-time record of $39.4 billion during the March quarter, according.....

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