Goldman Sachs posts quarterly profit jump amid deal-making, record equities
Goldman Sachs just posted a big jump in profits this quarter, mainly because of strong deal-making and record-breaking equities trading.
Even with global markets shaken by rising oil prices and the Iran conflict, the bank managed to keep things steady, thanks in part to more clients wanting help with their investments.
Goldman investment banking fees surge 48%
Equities trading revenue hit an all-time high at $5.33 billion (up 27%), though fixed income and commodities dipped 10%.
Investment banking fees surged 48%, boosted by huge mergers like Unilever's planned merger of its food business with McCormick to create a $65 billion company.
Goldman also led the M and A market and is set to play a key role in SpaceX's upcoming IPO.
CEO David Solomon summed it up: "The geopolitical landscape remains very complex - so disciplined risk management must remain core to how we operate,"