Goldman Sachs cashed in on inventory market turmoil over President Donald Trump’s tariffs — with the financial institution’s inventory merchants bagging their highest revenues ever in the course of the first three months of this yr.
The US monetary big launched its first-quarter esults earlier than the opening bell on Monday, posting web income of $4.7 billion for the primary quarter of 2025 and revenues of $15.06 billion.
A submitting launched this morning confirmed that its buying and selling division reported revenues of $4.2 billion, up 27% from the identical interval final yr.
“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,” stated Goldman Sachs CEO David Solomon in a thinly veiled nod to Trump’s tariff plans.
Analysts surveyed by the London Inventory Change Group had forecast revenues of $14.8 billion.
The value of a share in Goldman Sachs closed at $494.44 on Friday as crosstown rivals JPMorgan and Morgan Stanley unveiled their earnings with JPMorgan’s CEO Jamie Dimon warning how Trump’s threats to begin a worldwide commerce struggle may create “considerable turbulence” for the US economic system.
The commander-in-chief’s transfer to slap tariffs on imports from a variety of countries despatched inventory markets tanking earlier than a last-gasp U-turn that solely left levies towards Chinese language items in tempo, with the remainder delayed for 90 days.
Solomon, who raked in $39 million in compensation final yr, and his second-in-command, chief working officer John Waldron have confronted warmth from some Wall Road observers after each obtained a five-year $80 million golden handcuffs bonus.
The attention-popping sums, that are topic to being signed off by the financial institution’s compensation committee, had been seen as a play to maintain Solomon and Waldron with the agency.
Final month, the Monetary Occasions reported that Waldron was eyeing a $500 million job in personal fairness with Marc Rowan’s Apollo World Administration.
Defenders of the payouts have likewise pointed to Goldman’s surging income, which have despatched its share worth rocketing by greater than 30% over the previous yr.
