Catenaa, Monday, April 14, 2025- Goldman Sachs’ first quarter profits rose by 15% year on year, the company reported on Monday, driven by record revenues by equities and fixed income amidst volatility.
The firm reported net revenues of $15.06 billion and net earnings of $4.74 billion for the first quarter ended March, while diluted earnings per common share (EPS) was $14.12 and annualized return on average common shareholders’ equity (ROE) was 16.9% for the first quarter of 2025.
First quarter net revenues were 6% higher than the first quarter of 2024 and 9% higher than the fourth quarter of 2024.
Global Banking & Markets generated net revenues of $10.71 billion for the firm, driven by record net revenues in equities and strong performances in Fixed Income, currency and commodities and debt underwriting.
“Our strong results this quarter have demonstrated that in times of great uncertainty, clients turn to Goldman Sachs for execution and insight. While we are entering the second quarter with a markedly different operating environment than earlier this year, we remain confident in our ability to continue to support our clients,” Chairman and CEO of Goldman Sachs, David Solomon, said.
Goldman Sachs’ book value per common share increased by 2.2% during the quarter to $344.20.
Moreover, provision for credit losses was $287 million for the first quarter of 2025, compared with $318 million for the first quarter of 2024 and $351 million for the fourth quarter of 2024.
The impact of the tax benefits related to employee share-based awards was a reduction to provision for taxes for the first quarter of 2025 of approximately $525 million, which increased diluted EPS by $1.63 and annualized ROE by 2.0 percentage points.
