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| Goldman Sachs profits rise 7% on investment banking | Goldman Sachs profits rise 7% on investment banking |
| (7 days later) | |
| A strong performance in its investment banking division bolstered Goldman Sachs profits during the first three months of 2012 | A strong performance in its investment banking division bolstered Goldman Sachs profits during the first three months of 2012 |
| The firm made $2.26bn (£1.47bn) net profits, a 7% rise when compared with the same period last year. | The firm made $2.26bn (£1.47bn) net profits, a 7% rise when compared with the same period last year. |
| The investment banking division made $1.57bn, a 36% rise, during the period. | The investment banking division made $1.57bn, a 36% rise, during the period. |
| Goldman's total revenue rose just 1% to $10.1bn. The figures were ahead of analysts' expectations. | Goldman's total revenue rose just 1% to $10.1bn. The figures were ahead of analysts' expectations. |
| Earnings at the company's equity arm fell 15% to $1.92bn, which mostly reflecting a slowdown in trade executions and volumes on behalf of its clients. | Earnings at the company's equity arm fell 15% to $1.92bn, which mostly reflecting a slowdown in trade executions and volumes on behalf of its clients. |
| "We are pleased with our performance for the quarter," said Lloyd Blankfein, chairman and chief executive. | |
| "Our strong client franchise across our businesses drove generally solid results. | "Our strong client franchise across our businesses drove generally solid results. |
| "Still, the potential for macro-economic instability was felt in the quarter and constrained overall corporate and investor activity. We continue to be very focused on controlling our costs and efficiently managing our capital." | "Still, the potential for macro-economic instability was felt in the quarter and constrained overall corporate and investor activity. We continue to be very focused on controlling our costs and efficiently managing our capital." |