Goldman Sachs Beats Profit Estimates

Goldman Sachs kicked off the first-quarter earnings season with an 18% jump in profit, reaching $5.4 billion as the bank capitalized on market volatility linked to the Iran war.

CEO David Solomon highlighted the resilience of the global M&A market but faced questions from analysts regarding a drop in bond- and rates-trading revenue.

The bank's equities team set a new record, reaping $5.3 billion in revenue during the quarter.

However, shares dipped as investors weighed the impact of geopolitical uncertainty and tighter funding conditions on future performance.