Goldman Sachs beats Q1 estimates

Wall Street giant Goldman Sachs kicked off the first-quarter earnings season with a significant profit beat, reporting net income of $5.4 billion.

The bank benefited from a surge in dealmaking activity and a record haul from its stock trading desks, which capitalized on market volatility triggered by the Middle East conflict.

Despite the overall strength, investors were disappointed by a surprise drop in fixed-income, currency, and commodities revenue.

CEO David Solomon noted that while the macroeconomic environment remains complex, the bank's core businesses are showing strong resilience and growth potential.