Goldman profit gets boost from increased trading

[LONDON] Goldman Sachs Group Inc reported a 41 per cent rise in first-quarter profit, helped by a burst of trading activity in January when the Swiss central bank removed a cap on the franc.

Goldman said on Thursday its net income applicable to common shareholders rose to US$2.75 billion, or US$5.94 per share, for the quarter ended March 31, from US$1.95 billion, or US$4.02 per share, in the same period of 2014.

Analysts on average had expected earnings of US$4.26 per share, according to Thomson Reuters I/B/E/S. It was not immediately clear if the reported earnings were comparable.

Revenue from trading fixed income, currencies and commodities rose 10 per cent to US$3.13 billion.

REUTERS