4/14, 1:25 PM (Source: TeleTrader)
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Goldman Sachs: Q1 net revenues up 102% YoY

Goldman Sachs Group Inc. reported on Wednesday that its net revenues totaled $17.7 billion in the first quarter of fiscal 2021, soaring 102% in comparison to the same timespan during the previous year.

Net earnings amounted to $6.84 billion in the three months ending with March 31, 2021, skyrocketing 464% from the same trimester last year. The company's diluted earnings per common share stood at $18.60, up almost sixfold compared to the first quarter of 2020 while operating expenses jumped 46% year-on-year to $9.44 billion.

"Our businesses remain very well positioned to help our clients reposition for the recovery, and that strength is reflected in the record revenues and earnings achieved this quarter," Chairman and CEO David Solomon noted in a statement.

Goldman Sachs's shares increased by 1.85% in premarket trade following the release of the report.

Breaking the News / MS