Goldman Sachs cashes in on stock market turmoil as – Business News
Goldman Sachs cashed in on stock market turmoil over President Donald Trump’s tariffs — with the bank’s stock merchants bagging their highest revenues ever during the primary three months of this 12 months.
The US financial giant launched its first-quarter esults earlier than the opening bell on Monday, posting web earnings of $4.7 billion for the primary quarter of 2025 and revenues of $15.06 billion.
A submitting launched this morning confirmed that its trading division reported revenues of $4.2 billion, up 27% from the identical period final 12 months.
Solomon, 63, has been in the highest job at Goldman Sachs since 2018 when he changed Lloyd Blankfein as CEO. REUTERS
“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,” mentioned Goldman Sachs CEO David Solomon in a thinly veiled nod to Trump’s tariff plans.
Analysts surveyed by the London Stock Exchange Group had forecast revenues of $14.8 billion.
The price 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 international commerce warfare might create “considerable turbulence” for the US financial system.
The commander-in-chief’s transfer to slap tariffs on imports from a big selection of nations despatched stock markets tanking earlier than a last-gasp U-turn that solely left levies towards Chinese items in tempo, with the remaining delayed for 90 days.
John Waldron was reportedly eyeing a massive money transfer to Marc Rowan’s Apollo Global Management earlier than he was provided an $80 million five-year ‘golden handcuffs’ bonus to remain at 200 West Street. AFP by way of Getty Images
Solomon, who raked in $39 million in compensation final 12 months, and his second-in-command, chief working officer John Waldron have confronted heat from some Wall Street observers after each obtained a five-year $80 million golden handcuffs bonus.
The eye-popping sums, that are subject to being signed off by the bank’s compensation committee, have been seen as a play to keep Solomon and Waldron with the firm.
Last month, the Financial Times reported that Waldron was eyeing a $500 million job in personal equity with Marc Rowan’s Apollo Global Management.
Defenders of the payouts have likewise pointed to Goldman’s surging earnings, which have despatched its share price rocketing by more than 30% over the previous 12 months.
