Goldman Sachs posts 7 percent rise in profits

  • Goldman Sachs posted a 7 percent increase in profits during the first three months of 2012 on the back of a strong performance in its investment banking division.

    According to the results released on Tuesday, the firm made $2.26 billion net profits.

    The investment banking division made $1.57 billion, a 36 percent increase compared to the same period last year.

    Goldman's total revenue increased by 1 percent to $10.1 billion. The figures came in ahead of analysts’ forecasts.

    Meanwhile, earnings at the company's equity arm dropped 15 percent to $1.92bn due to a slowdown in trade executions and volumes on behalf of its clients

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