Goldman Sachs Just Posted Its Best Quarter Ever
Investment banking giant Goldman Sachs (NYSE: GS) was one of the first companies to report its first-quarter 2021 results, and the company certainly set a high bar. Not only did the company handily surpass analysts' expectations, but the bank's first-quarter revenue and earnings were the highest they've ever been.
On the top line, Goldman generated $17.7 billion in revenue, more than $5 billion better than analysts had been looking for. And there were a few good reasons for this. The IPO market has been exceptionally strong -- especially in the SPAC world, as we saw hundreds of blank check companies go public in the first quarter. As a result, Goldman's investment banking revenue soared by 73% year over year.
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Source Fool.com
