Goldman Sachs beats profit estimates

Goldman Sachs has kicked off the first-quarter earnings season with a robust performance that highlights the resilience of major financial institutions despite geopolitical volatility.

The bank benefited from a 24% increase in investment banking revenue as dealmaking activity began to recover.

While bond trading revenue saw a surprise decline, the equities division achieved an all-time high, surpassing its previous record by $1 billion.

CEO David Solomon noted that while the Iran war has created uncertainty, the firm remains well-positioned to navigate market shifts.